Rate cut has minimal influence on nickel

Nickel Investing News reports nickel price had minimum effect with the Federal Reserves rate cut.

On India’s Multi Commodities Exchange (MCX), Nickel December 2008 contract opened at Rs 475.90 per kg as compared to its earlier closing of Rs 481, tossed in the range of Rs 467.10-485.90 and was last traded at Rs 475.90, down 1.06 per cent. Nickel January, 2009 contract opened at Rs 487 per kg as compared to its previous closing of Rs 494.80. Nickel February 2009 contract fell 5.01 per cent at Rs 498.70 per kg as compared to its previous closing of Rs 525.

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