Nickel down 1.94% on sluggish demand from alloy makers

Posted By: Religare
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Nickel down 1.94% on sluggish demand
On 2nd May, at the Multi Commodity Exchange, the prices of Nickel for the June month contracts declined by almost 1.94 per cent to reach Rs. 1,189.80 per kg.

The total traded quantity of the commodity stood at 765 lots representing Rs. 22.72 crore in value terms. Similarly, the prices of commodity for the July month contracts declined by approximately 1.53 per cent to reach Rs. 1,199.70 per kg.

The total traded quantity of the commodity for the July month contract stood at 11 lots representing Rs. 32.93 lakh in value terms. Limited demand of the commodity from alloy makers across the world was the primary reason behind the decline in its prices.

Read more about: mcx, nickle
Story first published: Tuesday, May 3, 2011, 12:30 [IST]
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