ET:Nickel futures marginally down on global cues, subdued demand
NEW DELHI: Nickel prices fell marginally by 0.36 per cent to Rs 824.80 per kg in futures trading largely in tandem with a weakening trend overseas.
At the Multi Commodity Exchange, nickel for delivery in August fell by Rs 2.20, or 0.36 per cent, to Rs 824.80 per kg in business turnover of 238 lots.
Similarly, metal for delivery in July traded lower by Rs 2.10, or 0.27 per cent, to Rs 816.40 per kg in 5,064 lots.
Marketmen said the fall in nickel prices at futures was mostly attributed to a weak trend overseas after a report showed that US employment climbed more than forecast in June, fuelling speculation that policy makers will pare economic stimulus as the economy gains.
Besides, subdued demand from alloy-makers also weighed on metal's prices, they said.
