PTI: Nickel falls nearly 2 per cent in futures on weak global cues
Nickel prices moved down nearly two per cent in futures trading on Friday owing to slackness in demand and a weakening global trend.
Reduced offtake by stainless steel makers due to fall in demand also influenced the prices.
Nickel for the most-active January month fell by 1.95 per cent at Rs 574.00 per kg on the Multi Commodity Exchange. The contract recorded a business of 946 lots.
February month contract for copper followed suit and declined by 1.55 per cent at Rs 584.30 per kg with trading volume of 35 lots.
Traders said besides weakening trend in global market sluggish demand from stainless steel makers mainly led to fall in nickel prices in spot as well as at futures market.
