Nickel falls 1.1% in futures trade

Tracking weak trend overseas and subdued demand at the spot market, nickel futures prices moved down by 1.10 per cent Rs 1,177.60 per kg in futures trade today.

At the Multi Commodity Exchange counter, nickel for January-month delivery traded Rs 13.10, or 1.10 per cent lower at Rs 1,177.60 per kg, with a business turnover of 4,013 lots.

The metal for delivery in February also weakened by Rs 10.10, or 1.01 per cent, to Rs 1,186.70 per kg, with an open interest of 859 lots.

Market analysts attributed fall in nickel futures prices to weak trend in the entire base metals at the London Metal Exchange and slackened demand at the spot market.