Nickel prices were down by 0.89 per cent to Rs 577.50 per kg in futures trade today taking weak cues from overseas market and subdued demand at the domestic spot market as participants cut down their bets.
At the Multi Commodity Exchange, nickel for delivery in February was trading lower by Rs 5.20, or 0.89 per cent, to Rs 577.50 per kg in a business turnover of 590 lots.
The metal for delivery in March also lost Rs 4.60 or 0.78 per cent to Rs 584.70 per kg in a turnover of 421 lots.
Analysts said the fall in metal at futures trade is mostly in line with a weakening trend in the base metals in global market and low demand from alloy-makers at the domestic spot markets.
