PTI reported that amid profit booking by speculators and subdued demand from alloy makers in the spot market, nickel prices fell by 0.63% to INR 928.40 per kilogram in futures trade on reduced offtake by speculators.

At the Multi Commodity Exchange, nickel for delivery in November 2012 fell by INR 5.90 or 0.63% to INR 928.40 per kilogram, with a business turnover of 690 lots.

In a similar fashion, the metal for delivery in October 2012 shed INR 5.80 or 0.63% to INR 921.00 per kilogram 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.

Source - PTI

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