ET:Nickel futures down on global trends, subdued spot demand
NEW DELHI: Nickel futures today traded lower by 0.42 per cent to Rs 828.70 per kg largely in tune with a weakening trend overseas amid subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in June weakened by Rs 3.50 paise, or 0.42 per cent, to Rs 828.70 per kg in business turnover of 720 lots.
Similarly, the metal for delivery in July traded lower by Rs 3.30, or 0.41 per cent, to Rs 834.30 per kg in 66 lots.
Globally, nickel dropped 0.3 per cent, to USD 14,112 per tonne at the London Metal Exchange.
Market analysts said apart from weak demand from alloy-makers at domestic spot markets, a weak trend overseas mainly weighed on nickel prices at futures trade here.
