Nickel futures down 0.67% on global cues

Nickel prices fell by 0.67% in futures trading today, after speculators reduced their positions, triggered by weak trend overseas.

At the Multi Commodity Exchange, nickel for delivery in April moved down by Rs 8, or 0.67%, to Rs 1,187.50 per kg, with an open interest of 276 lots.

Similarly, the metal for delivery in March weakened by Rs 7.95, or 0.66 %, to Rs 1,179.25 per kg, with a business turnover of 2,583 lots.

Market analysts said weak trend in copper and other base metals in global market, mainly kept pressure on the nickel futures prices here.