Nickel futures remain weak, shed 0.58%

Nickel futures traded 0.58% lower at Rs 1,180.60 per kg today taking weak cues from the global markets along with a subdued domestic demand. 

At the Multi Commodity Exchange, nickel for delivery in April fell by Rs 6.90, or 0.58% to Rs 1,180.60 per kg, with a business turnover of 2,481 lots.

Likewise, the metal for delivery in May lost Rs 6.50, or 0.54% to Rs 1,191 per kg, with a business turnover of 824 lots.

Analysts said besides subdued demand at the domestic spot markets, a weak trend in base metals at the London Metal Exchange, ahead of outcome of the Federal Reserve meeting on interest rates, led to the fall in copper futures prices.