Nickel bears in control
26/09/2016 14:37
Nickel futures tumbled by more than 1.5 per cent during noon trade in the domestic market on Monday as investors and speculators exit positions in the industrial metal amid weak physical demand for nickel, from alloy-makers in the domestic spot market. Sentiment also dampened after a report by Citigroup said that fears over supplies due to the shutting down of operations at some mines in Philippines, the world's top miner of nickel ore, if they fail to meet new environment or welfare standards, are misplaced. At the MCX, nickel futures for September 2016 contract is trading at Rs 695.2 per kg, down by 1.57 per cent, after opening at Rs 705, against a previous close of Rs 706.30. It touched the intra-day low of Rs 692.7 (at 14:32 PM).
26/09/2016 14:37
