 "Nickel down 0.4% on global trends, subdued spot demand")
Nickel futures today traded lower by 0.45% to Rs 847 per kg largely in tune with a weakening trend overseas amid subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in July weakened by Rs 3.80 paise, or 0.45%, to Rs 847 per kg in business turnover of 173 lots.
Similarly, nickel for delivery in June traded lower by Rs 3.50, or 0.41%, to Rs 840.60 per kg in 2,404 lots.
Market analysts said a weak trend overseas on concern that central banks including the US Federal Reserve will scale back measures aimed at spurring economic growth and subdued demand from alloy-makers in the spot market, mainly weighed on nickel prices at futures trade here.
At the Multi Commodity Exchange, nickel for delivery in July weakened by Rs 3.80 paise, or 0.45%, to Rs 847 per kg in business turnover of 173 lots.
Similarly, nickel for delivery in June traded lower by Rs 3.50, or 0.41%, to Rs 840.60 per kg in 2,404 lots.
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Globally, nickel dropped 2.4% to $14,535 a tonne at the London Metal Exchange.
Market analysts said a weak trend overseas on concern that central banks including the US Federal Reserve will scale back measures aimed at spurring economic growth and subdued demand from alloy-makers in the spot market, mainly weighed on nickel prices at futures trade here.