Nickel down 0.35% on weak global cues

Sluggish demand from alloy-makers influences prices

Nickel futures prices fell by 0.35% to Rs 923.60 per kg today, tracking a weak trend in base metals in the global markets.

At the Multi Commodity Exchange, nickel for delivery in September fell by Rs 3.20, or 0.35%, to Rs 923.60 per kg, with a business turnover of 3,855 lots.

October nickel declined by Rs 3.30, or 0.35%, to Rs 932.50 per kg, with a business turnover of 186 lots.

Marketmen said apart from sluggish demand from alloy-makers, weakness in base metals at the London Metal Exchange (LME) put pressure on nickel futures here.