ET:Nickel futures down 0.68 pc on weak global markets
NEW DELHI: Amid a weakening trend at the London Metal Exchange and sluggish domestic demand, nickel futures fell 0.68 per cent to Rs 890.70 per kg today.
At the Multi Commodity Exchange, nickel for delivery in August traded Rs 6.10, or 0.68 per cent lower, at Rs 890.70 per kg, with a business turnover of 371 lots.
Likewise, the metal for delivery in July declined by Rs 5.70, or 0.64 per cent, to Rs 879.70 per kg, with a business turnover of 1,335 lots.
Marketmen said weakness in copper and other base metals at the London Metal Exchange ( LME) on fears that demand in China, the biggest user, may drop and resurfacing of concerns over Europe's debt crisis, mainly put pressure on nickel futures.
Further, slackened demand at domestic spot markets from alloy-makers also weighed on metal prices, they said.
