Nickel Feels The Pinch In Opening Trades On MCX

Nickel.......

The demurring of prices of Nickel in the Asian session was indicating only one thing that the prices of Nickel in MCX will open in red. The decline of Dollar against the Rupee has made this easier.
Nickel has opened in red on MCX with benchmark contract last seen trading at Rs 840 per kg, down 0.41 percent. The metal is at its 12 day low in Indian markets. Last night, MCX Nickel was the worst performer in the base metals pack, ending at Rs 844.1 per kg, down 2.7 percent.
LME three month prices were trading down by $ 54 per tonne to $ 14496 per tonne. This is the fifth consecutive day of decline in Nickel.
Source by Commodity Insights