Nickel down by 0.5% on overseas cues

Subdued demand in the domestic market also affected prices

Amid a weak trend in the global markets and subdued domestic demand, nickel fell by 0.49% lower at Rs 606.40 per kg in futures trade today as speculators cut down their bets.

At the Multi Commodity Exchange, nickel for delivery in April was trading down by Rs 3, or 0.49%, at Rs 606.40 per kg in a business turnover of 1,556 lots.

Read more from our special coverage on "NICKEL PRICES"

• Nickel up by 0.4% on firm spot demand
• Nickel up by 1.4% on global cues
• Nickel up by 0.7% on global cues
• Nickel falls by 0.3% on muted spot demand
• Nickel down by 0.3% on weak global cues

 

The metal for delivery in May was also down by a similar margin to trade at Rs 612.80 per kg in a turnover of 440 lots.

Analysts said the fall in nickel prices was mostly in line with a weakening trend in metals overseas on on fresh concerns about global demand.