ET:Nickel futures down 0.29 pc on subdued demand, global cues
NEW DELHI: Nickel prices moved down by 0.29 per cent to Rs 920.10 per kg in futures trade today as speculators trimmed their positions, taking negative cues from overseas markets.
At the Multi Commodity Exchange, nickel for delivery in April declined by Rs 2.70, or 0.29 per cent to Rs 920.10 per kg in business turnover of 409 lots.
Likewise, the metal for delivery in March shed Rs 2.30, or 0.26 per cent to Rs 913.60 per kg in 6715 lots.
Market analysts said speculators trimmed their positions in tandem with a weak global trend, that mainly kept pressure on nickel prices at futures market.
Meanwhile, nickel dropped 0.7 per cent to $ 16,774 a tonne on the London Metal Exchange.
