D A I L Y B U Z Z
NICKEL Nickel prices moved down by 0.22 per cent to Rs 1,152.90 per kg in futures trade today as participants reduced their exposures, tracking a weak trend overseas and sluggish demand from alloy-makers in the spot market.
At the Multi Commodity Exchange, nickel for delivery in July month declined by Rs 2.50, or 0.22 per cent, to Rs 1,152.90 per kg in a turnover of 538 lots.
Similarly, the metal for delivery in August traded lower by Rs 2.90 or 0.22 per cent, to Rs 1,159.20 per per kg in a turnover of 538 lots.
Similarly, the metal for delivery in August traded lower by Rs 2.90 or 0.22 per cent, to Rs 1,159.20 per kg in 32 lots.
Analysts attributed the fall in nickel prices at futures trade to a weak trend in metal at the London Metal Exchange (LME) and low demand from alloy-makers at domestic spot markets also influenced prices.
CARDAMOM
Cardamom prices rose further by Rs 6.90 to Rs 935 per kg in futures trade today as speculators created fresh positions, supported by rising demand in the spot markets.
At the Multi Commodity Exchange, cardamom for delivery in August rose Rs 6.90, or 0.74 per cent, to Rs 935 per kg in business turnover of 228 lots.
Similarly, the spice for delivery in September traded higher by Rs 5.60, or 0.61 per cent, to Rs 913 per kg in 39 lots.
Market analysts said fresh positions created by speculators following pick up in demand in the spot markets against restricted arrivals from producing regions mainly led to the rise in cardamom prices at futures trade.
