ET:Nickel weakens in futures trade on spot demand, global cues
NEW DELHI: Amid a weak global trend and subdued domestic demand, nickel prices fell by 0.93 per cent to Rs 910.10 per kg in futures market today.
At the Multi Commodity Exchange, nickel for delivery in February traded Rs 8.50, or 0.93 per cent lower to Rs 910.10 per kg in business turnover of 9,449 lots.
Likewise, the metal for delivery in March shed Rs 8, or 0.87 per cent to Rs 916.40 per kg in 1,865 lots. Market analysts said besides subdued domestic demand, a weak trend in overseas markets mainly kept pressure on nickel prices at futures trade.
Meanwhile, nickel fell 0.3 per cent to USD 16,930 a tonne on the London Metal Exchange.
