Nickel markets remained under pressure as the world markets struggled to find a way out from technical and panic selling. The political uncertainty in Italy as the upper house was yet to find any party emerging in clear majority led to the selling in the markets. The anxiety of the Federal Reserve Chairman testimony today was also hovering the sentiments on the downside.
LME three month forward Nickel was down by $ 248 per tonne, at $ 16552 per tonne. LME Nickel is at three month lows today's. MCX Nickel was trading at Rs 905 per kg, down 0.17%. The metal has tested a high of Rs 909.2 per kg and a low of Rs 901 per kg.
Source by Commodity Insights
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