Nickel futures down on weak overseas cues

Nickel futures traded marginally lower by 0.33% today amid weak overseas trend and subdued demand at the spot markets.

At the Multi Commodity Exchange, nickel for delivery in May traded Rs 4, or 0.33% lower at Rs 1,213.80 per kg, with a business turnover of 720 lots.

The metal for delivery in June fell by Rs 3.90, or 0.32% to Rs 1,223.30 per kg, with a business volume of 60 lots.

Market analysts said a weak trend in copper and other base metals overseas along with subdued trend at the domestic markets on sluggish demand, led to the decline in nickel futures prices.