Nickel remains weak in futures trade

Nickel futures prices fell marginally by 0.20% to Rs 972 per kg, tracking a weak trend overseas amid subdued spot demand.  

At the Multi Commodity Exchange, nickel for August delivery traded Rs 1.90, or 0.20%, lower at Rs 972 per kg, with a business turnover of 4,646 lots. 

The metal for September delivery fell by Rs 1.80, or 0.18%, to Rs 979.20 per kg, with a business volume of 528 lots. 

Analysts said a weakening trend in base metals at the London Metal Exchange and sluggish demand from alloy-makers, mainly weighed on the nickel prices at futures trade here.