 "Nickel down 0.3% on weak trend in base metals")
Nickel prices moved down by 0.33% to Rs 959.90 per kg in futures trade today as speculators trimmed their positions, taking negative cues from overseas markets.
Further, subdued demand from alloy-makers in the domestic spot markets also weighed on the prices.
At the Multi Commodity Exchange, nickel for delivery in May declined by Rs 3.20, or 0.33%, to Rs 959.90 per kg in business turnover of 29 lots.
Analysts said the fall in nickel prices was mostly in tandem with a weakening trend in base metals in the global market as gauges for Chinese industrial activity indicated sluggish growth, lowering prospects for demand from the world's biggest consumer.
Fall in demand from alloy-makers in the domestic spot markets too put pressure, they said.
Further, subdued demand from alloy-makers in the domestic spot markets also weighed on the prices.
At the Multi Commodity Exchange, nickel for delivery in May declined by Rs 3.20, or 0.33%, to Rs 959.90 per kg in business turnover of 29 lots.
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The metal for delivery in April shed Rs 3.10, or 0.32%, to Rs 955.80 per kg in 135 lots.
Analysts said the fall in nickel prices was mostly in tandem with a weakening trend in base metals in the global market as gauges for Chinese industrial activity indicated sluggish growth, lowering prospects for demand from the world's biggest consumer.
Fall in demand from alloy-makers in the domestic spot markets too put pressure, they said.
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