Nickel down 0.1% on subdued spot demand

Metal for delivery in November traded lower by 0.06%

Nickel prices weakened by 0.18% to Rs 876 per kg in futures trade today as speculators offloaded their positions on the back of subdued demand from alloy-makers in the spot market.

At the Multi Commodity Exchange, nickel for delivery in October declined by Rs 1.60, or 0.18%, to Rs 876 per kg in business turnover of 1,185 lots.

Similarly, the metal for delivery in November traded marginally lower by 50 paise, or 0.06%, to Rs 886.20 per kg in 33 lots.

Market analysts said speculators offloaded their positions on the back of subdued demand from alloy-makers in the spot market mainly influenced nickel prices at futures trade.