 "Nickel down by 0.5%, tracking weak global trend")
Nickel futures traded lower by 0.49% to Rs 611.40 per kg largely in tune with weak overseas trend amid subdued demand from alloy-makers at domestic spot markets.
In futures trading at the Multi Commodity Exchange, nickel for delivery in December weakened by Rs 3, or 0.49%, to Rs 611.40 per kg in a business turnover of 165 lots.
Similarly, the metal for delivery in November was down by Rs 2.80, or 0.46%, at Rs 605.20 per kg in 664 lots.
Analysts said apart from weak demand from alloy makers at domestic spot markets, a weak trend in the base metals pack in global markets weighed on nickel prices at futures trade here.
In futures trading at the Multi Commodity Exchange, nickel for delivery in December weakened by Rs 3, or 0.49%, to Rs 611.40 per kg in a business turnover of 165 lots.
Similarly, the metal for delivery in November was down by Rs 2.80, or 0.46%, at Rs 605.20 per kg in 664 lots.
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Globally, nickel dropped as much as 1.8% at the London Metal Exchange (LME).
Analysts said apart from weak demand from alloy makers at domestic spot markets, a weak trend in the base metals pack in global markets weighed on nickel prices at futures trade here.
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