After a one-week low of commodity prices of nickel, the Nickel contracts have started the other day with fresh short positions on MCX and NCDEX.
The commodity prices of Nickel February expiry is lowered by Rs 5 and trading at commodity is Rs 1293.6 per kg. The commodity markets registered a decrease of Rs 1269 per kg on 17 Feb that was its one-week low. The support expected of MCX Nickel is found at a commodity price of Rs 1280 per kg in today's trades.
The commodity prices of raw materials remained increasing in global markets. This was not helpful for Nickel in commodity, MCX and NCDEX as traders lashed on the opportunities to enter shorts. Iron ore prices at international market are ruling at USD 200 per tonne.
In commodity domestic markets, the Steel longs on NCDEX have also been under pressure in last few days. The commodity prices of March expiry contract have lowered from Rs 29670 per tonne to Rs 27430 per tonne today.
The commodity prices of Nickel February expiry is lowered by Rs 5 and trading at commodity is Rs 1293.6 per kg. The commodity markets registered a decrease of Rs 1269 per kg on 17 Feb that was its one-week low. The support expected of MCX Nickel is found at a commodity price of Rs 1280 per kg in today's trades.
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| MCX Nickel |
The commodity prices of raw materials remained increasing in global markets. This was not helpful for Nickel in commodity, MCX and NCDEX as traders lashed on the opportunities to enter shorts. Iron ore prices at international market are ruling at USD 200 per tonne.
In commodity domestic markets, the Steel longs on NCDEX have also been under pressure in last few days. The commodity prices of March expiry contract have lowered from Rs 29670 per tonne to Rs 27430 per tonne today.
