Nickel futures fell in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid weak demand from alloy-makers in the domestic spot market. Further, weak cues from overseas markets amid a contraction in manufacturing in China, the world’s top metals consumer, added to selling pressure in the industrial metal.
At the MCX, Nickel futures for April 2014 contract is trading at Rs. 954.50 per 1 kg, down by 0.46 per cent, after opening at Rs. 956.10, against the previous closing price of Rs. 958.90.
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Nickel trading range for the day is 941.1-976.3.Nickel prices ended with gains amid concern that world supplies will be constrained.
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Nickel trading range for the day is 950-988.6.Nickel prices ended with gains as support seen boosted by China’s pro-growth policies.
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