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Nickel futures prices fall 0.63% on profit-booking

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SummaryNickel prices fell by 0.63 per cent to Rs 928.40 per kg in futures trade today on reduced offtake by speculators.

Amid profit-booking by speculators and subdued demand from alloy makers in the spot market, nickel prices fell by 0.63 per cent to Rs 928.40 per kg in futures trade today on reduced offtake by speculators.

At the Multi Commodity Exchange, nickel for delivery in November fell by Rs 5.90, or 0.63 per cent, to Rs 928.40 per kg, with a business turnover of 690 lots.

In a similar fashion, the metal for delivery in October shed Rs 5.80, or 0.63 per cent, to Rs 921.00 per kg in 6,285 lots.

Marketmen said besides profit-booking by speculators at prevailing higher levels, subdued demand from alloy-makers in the spot market mainly pulled down nickel prices at futures trade.

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