Nickel’s near term outlook bleak

Nickel Investing News reports nickel prices aren’t shining in the near term and has fallen over 80%.

Nickel futures declined this week on the MCX. The most actively trading, the nickel March contract, is trading down 1.58 per cent against its earlier close of Rs 505. Nickel April contract is trading lower by 1.41 per cent at Rs 504 per kg after opening at Rs 514.30. Similarly, Nickel May contract is trading down 2.30% at Rs 510 per kg as compared to its earlier close of Rs 522.