ET:Nickel futures weaken on sluggish demand, global cues
NEW DELHI: Nickel prices moved down by 1.12 per cent to Rs 925.50 per kg in futures trade today on sluggish demand from alloy-makers in the spot market amid a weak global trend.
At the Multi Commodity Exchange, nickel for delivery in August month declined by Rs 10.50, or 1.12 per cent to Rs 925.50 per kg in a turnover of 2,411 lots.
Similarly, the metal for delivery in September traded lower by Rs 10.60, or 1.12 per cent to Rs 933.50 per kg in 163 lots.
Traders attributed attributed the fall in nickel prices at futures trade to a weak trend in the global market and subdued demand from alloy-makers.
Meanwhile, Nickel decreased 0.8 per cent to $14,880 a tonne on the London Metal Exchange.
