Nickel down 0.3% on global cues

Metal for delivery in November shed 0.13%

Amid a weak trend in global market and subdued demand at domestic spot markets, nickel prices fell 0.26% to Rs 1,052.60 per kg in futures trade today as speculators trimmed positions.

At the Multi Commodity Exchange, nickel for delivery in October traded Rs 2.70, or 0.26%, to Rs 1,052.60 per kg in a business turnover of 13 lots.

On the similar lines, the metal for delivery in November shed Rs 1.40, or 0.13%, to Rs 1,058.80 per kg in one lot.

Analysts said the fall in nickel prices at futures trade was largely in tandem with a weakening trend in the global markets and subdued demand from alloy-makers in the domestic spot markets has put pressure.