Nickel prices moved down by Rs 5.60 to Rs 821 per kg in futures market today as speculators trimmed their positions on weak cues in overseas markets. Subdued demand from consuming industries in the spot market further dampened the sentiment. At the Multi Commodity Exchange, nickel for delivery in June month declined by Rs 5.60, or 0.68%, to Rs 821 per kg in business turnover of 5,677 lots. Likewise, the metal for delivery in July contract traded lower by Rs 5.60, or 0.67%, to Rs 827.70 per kg in 1,175 lots. Market analysts attributed the fall in nickel futures to a weak global trend. Meanwhile, nickel lost 1.1% to 13,780 a metric tonne on the London Metal Exchange.

Source