ET:Nickel futures fall on global trends, low spot demand
NEW DELHI: Nickel futures traded lower by 0.42 per cent to Rs 918.70 per kg today on weakening trend overseas amid subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in April weakened by Rs 3.90, or 0.42 per cent, to Rs 918.70 per kg in business turnover of 10 lots. In a similar fashion, the metal for delivery in March traded lower by Rs 3.60, or 0.39 per cent, to Rs 912.60 per kg in 428 lots.
Analysts said apart from weak demand from alloy-makers at domestic spot markets, a weak trend overseas on escalating tensions in Ukraine and slowing growth in China, the world's biggest user, mainly weighed on nickel prices at futures trade here.
