ET:Nickel moves down in futures trade on global cues
NEW DELHI: Amid a weak global trend, subdued domestic demand, nickel prices traded lower by 0.79 per cent to Rs 909.40 per kg in futures trade on Thursday.
At the Multi Commodity Exchange, nickel for delivery in March moved down by Rs 7.20, or 0.79 per cent to Rs 909.40 per kg in business turnover of 5523 lots.
Similarly, the metal for delivery in April declined by Rs 4.90, or 0.53 per cent to Rs 919.60 per kg in 3,693 lots.
Market analysts said speculators offloaded their positions, tracking a weak global trend mainly pulled down nickel prices at futures trade.
Meanwhile, nickel dropped 0.4 per cent to $ 16,790 a tonne on the London Metal Exchange.
