Nickel down 0.1% on global trends, subdued spot demand

Metal for delivery in March traded lower by 0.13%

Nickel futures traded lower by 0.17% to Rs 951.60 per kg today, largely in tune with a weakening trend overseas amid subdued spot demand.

At the Multi Commodity Exchange, nickel for delivery in April fell by Rs 2.60, or 0.17%, to Rs 951.60 per kg in a business turnover of 76 lots.

Also, the metal for delivery in March traded lower by Rs 1.20, or 0.13%, to Rs 945.40 per kg in 924 lots.

Market analysts said apart from subdued demand from alloy-makers at domestic spot markets, a weak trend in base metals overseas on concern over China's slowing growth, mainly weighed on nickel prices at futures trade here.