ET:Nickel futures slide 0.52 per cent on global cues
NEW DELHI: Amid a weak global trend and low domestic demand, nickel prices declined 0.52 per cent to Rs 907.60 per kg in futures trade today as speculators trimmed their positions.
Sentiment remained bearish after industrial metals retreated in global markets as manufacturing data from China fell below expectations.
At the Multi Commodity Exchange, nickel for delivery in January declined by Rs 4.70, or 0.52 per cent, to Rs 907.60 per kg in a business turnover of 1,158 lots.
Similarly, the metal for delivery in February shed Rs 4.50, or 0.49 per cent, to Rs 913.50 per kg in 168 lots.
Market analysts said speculators trimmed their positions in line with a bearish global trend that put pressure on nickel prices at futures trade.
Meanwhile, nickel fell 0.3 per cent to $14,750 a tonne at the London Metal Exchange.
