 "Nickel down 0.4% on overseas trends")
Amid a weak trend in the global markets and subdued domestic demand, nickel fell 0.40% to Rs 837.90 per kg in futures trade today as speculators reduced their positions.
At the Multi Commodity Exchange (MCX), nickel contract for May eased by Rs 2.50, or 0.40%, to Rs 837.90 per kg in 694 lots.
The June contract also down by Rs 3.30, or 0.39%, to Rs 845 per kg in 57 lots.
Analysts said the fall in nickel prices at futures trade was mostly in tandem with a weakening trend in the base metals at the LME even as an unexpected gain in US retail sales eased concern that slowing industrial growth in China will curb demand for metals.
At the Multi Commodity Exchange (MCX), nickel contract for May eased by Rs 2.50, or 0.40%, to Rs 837.90 per kg in 694 lots.
The June contract also down by Rs 3.30, or 0.39%, to Rs 845 per kg in 57 lots.
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Globally, nickel dropped 0.5% to $15,280 per tonne at the London Metal Exchange (LME).
Analysts said the fall in nickel prices at futures trade was mostly in tandem with a weakening trend in the base metals at the LME even as an unexpected gain in US retail sales eased concern that slowing industrial growth in China will curb demand for metals.
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