Nickel down 0.6% on weak global markets, subdued demand

Metal for delivery in December declined by 0.53%

Nickel futures prices fell marginally by 0.60% to Rs 828.90 per kg today, tracking a weakening trend in base metals in the global markets.

At the Multi Commodity Exchange, nickel for delivery in current month traded Rs 5, or 0.60% lower at Rs 828.90 per kg, with a business turnover of 709 lots.

Likewise, the metal for delivery in December declined by Rs 4.50, or 0.53%, to Rs 838 per kg, with a business turnover of 786 lots.

Market participants said apart from sluggish demand from alloy-makers, weakness in metal at the London Metal Exchange, put pressure on nickel futures here.