Subdued trade continues in Nickel
19/08/2016 14:48
Nickel futures were trading tad lower during noon trade in the domestic market on Friday as investors and speculators stuck to a cautious stance amid soft physical demand for nickel from alloy-makers in the domestic spot market.
However, improved demand outlook in the US supported the industrial metal as a regional manufacturing gauge bounced back into positive terrain. The index measuring manufacturing in the Philadelphia region rose to 2 in August from -2.9 in July, with a reading above 0 signaling expansion.
At the MCX, nickel futures for August 2016 contract is trading at Rs 689.10 per kg, down by 0.07 per cent, after opening at Rs 688.10, against a previous close of Rs 689.60. It touched the intra-day low of Rs 686.10 (at 14:44 PM).
19/08/2016 14:48
However, improved demand outlook in the US supported the industrial metal as a regional manufacturing gauge bounced back into positive terrain. The index measuring manufacturing in the Philadelphia region rose to 2 in August from -2.9 in July, with a reading above 0 signaling expansion.
At the MCX, nickel futures for August 2016 contract is trading at Rs 689.10 per kg, down by 0.07 per cent, after opening at Rs 688.10, against a previous close of Rs 689.60. It touched the intra-day low of Rs 686.10 (at 14:44 PM).
