 "Nickel down by 0.2% on global trends, subdued spot demand")
Nickel futures today traded lower by 0.2% to Rs 804 per kg largely in tune with a weakening trend overseas amid subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in July weakened by Rs 1.60, or 0.2%, to Rs 804 per kg in business turnover of 402 lots.
The metal for delivery in August traded lower by a similar margin at Rs 811.50 per kg in 39 lots.
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Globally, nickel was down 0.8% at $13,325 per tonne at the London Metal Exchange.
Market analysts said that subdued demand from alloy-makers at domestic spot markets, mainly weighed on nickel prices at futures trade.
A weak trend overseas following unexpected fall in China's exports and imports, has been fuelling concerns that slowing economic growth will hurt metals demand in the world's largest consumer.