 "Nickel down 0.2% on subdued spot demand; overseas trend")
Continuing a weak trend, nickel futures today fell by another 0.25% to Rs 869.50 per kg as participants engaged in offloading positions amid weak spot demand and subdued trend overseas.
At the Multi Commodity Exchange, nickel for delivery in October fell Rs 2.20, or 0.25%, to Rs 869.50 per kg in business turnover of 66 lots.
On the similar lines, nickel for delivery in September traded lower by Rs 1.80, or 0.21%, to Rs 859.80 per kg in 925 lots.
Market analysts said besides slackened demand from alloy-makers in the domestic spot markets, weakness in metals overseas on speculation that budget woes will damp the economy in the US, the world's second-biggest user of the metal, weighed on nickel futures prices here.
At the Multi Commodity Exchange, nickel for delivery in October fell Rs 2.20, or 0.25%, to Rs 869.50 per kg in business turnover of 66 lots.
On the similar lines, nickel for delivery in September traded lower by Rs 1.80, or 0.21%, to Rs 859.80 per kg in 925 lots.
Market analysts said besides slackened demand from alloy-makers in the domestic spot markets, weakness in metals overseas on speculation that budget woes will damp the economy in the US, the world's second-biggest user of the metal, weighed on nickel futures prices here.