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Nickel futures in reverse gear

  • Nickel futures were trading lower during evening trade in the domestic market on Friday as investors, speculators exited their positions in the industrial metal on diminishing demand amid firmer greenback.

    Besides, concerns that China's base metals demand could temper in the coming quarter as Beijing acts on runaway property prices, too influenced nickel prices.

    At the MCX, nickel futures for April 2017 contract is trading at Rs 611 per kg, down by 0.29 per cent, after opening at Rs 613, against a previous close of Rs 612.80. It touched the intra-day low of Rs 609.20 (at 16:24 hours).

     

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