Nickel weakens by 0.1% on subdued demand

Nickel in futures trade eased by 0.11% to Rs 890.30 per kg today as speculators reduced positions on subdued demand from alloy-makers in the spot market.

 

At the Multi Commodity Exchange, nickel for delivery in November weakened by Re 1, or 0.11%, to Rs 890.30 per kg in business turnover of 686 lots.

 

Similarly, the metal for delivery in December traded lower by 70 paise, or 0.08%, to Rs 898.40 per kg in 13 lots.

 

Analysts said the fall in nickel prices at futures trade was mostly due to offloading of positions by speculators on the back of subdued demand from alloy-maker in the spot market.