Nickel down by 0.3% on global trend

Speculators trimmed positions amid a weak global trend

Nickel futures traded lower by 0.33% to Rs 977.90 per kg today on a weakening trend overseas as speculators trimmed positions.

At the Multi Commodity Exchange, nickel for delivery in current month weakened by Rs 3.20, or 0.33%, to Rs 977.90 per kg in a business turnover of 537 lots.

Similarly, the metal for delivery in January 2015 traded lower by Rs 3.10, or 0.31%, to Rs 984.30 per kg in 25 lots.

Market analysts said metal's weakness at the London Metal Exchange mainly weighed on nickel prices in futures trade here.