 "Nickel eases 0.17% on global cues")
Nickel prices moved down by 0.17 per cent to Rs 917.80 per kg in futures trade today as speculators trimmed positions, tracking a weak trend at the London Metal Exchange (LME).
In addition, subdued demand from alloy-makers at domestic spot market, too, weighed on metal prices.
At Multi Commodity Exchange, nickel for delivery in June declined Rs 1.60, or 0.17 per cent, to Rs 917.80 per kg in a business turnover of 55 lots.
Analysts said the fall in nickel prices was mostly due to offloading of positions by participants tracking a weak trend overseas as investors await data forecast to show industrial production growth in China rebounded from a 6-year low.
Globally, nickel for delivery in three months at LME slid 0.3 per cent to $14,245 per tonne.
In addition, subdued demand from alloy-makers at domestic spot market, too, weighed on metal prices.
At Multi Commodity Exchange, nickel for delivery in June declined Rs 1.60, or 0.17 per cent, to Rs 917.80 per kg in a business turnover of 55 lots.
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The metal for delivery in the current month (May) shed Rs 1.50, or 0.16 per cent, to Rs 910.80 per kg in 1,691 lots.
Analysts said the fall in nickel prices was mostly due to offloading of positions by participants tracking a weak trend overseas as investors await data forecast to show industrial production growth in China rebounded from a 6-year low.
Globally, nickel for delivery in three months at LME slid 0.3 per cent to $14,245 per tonne.
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