ET:Nickel futures down on weak global trend; sluggish demand
NEW DELHI: Amid weak global trend and sluggish demand from alloy-makers in the spot market, nickel futures prices fell by Rs 6.40 to Rs 910.90 per kg today.
At the Multi Commodity Exchange, nickel for delivery in July fell by Rs 6.40, or 0.70 per cent, to Rs 910.90 per kg, with a business turnover of 11,072 lots.
Similarly, the metal for delivery in August shed Rs 6.40, or 0.69 per cent, to Rs 919.30 per kg, with a business turnover of 607 lots.
Market analysts said besides a weak trend in base metals in overseas market, subdued demand from alloy-makers in the spot market kept pressure on nickel futures.
Meanwhile, nickel retreated 0.7 per cent to USD 16,290 a tonne on the London Metal Exchange.
