 "Nickel down over 1% on subdued demand")
Amid a weak trend in the global markets and subdued domestic demand, nickel traded 1.28% lower at Rs 833.50 per kg in futures trade today as speculators reduced their positions.
At the Multi Commodity Exchange (MCX), the June contract fell 10.80, or 1.28%, to Rs 833.50 per kg in 1,407 lots.
The May contract went down by Rs 10, or 1.18%, to Rs 840.40 per kg in 169 lots.
Analysts said fall in nickel prices at futures trade was mostly in tandem with a weakening trend in the base metals at the London Metal Exchange (LME) after manufacturing in China unexpectedly contracted for the first time in seven months, indicating weaker demand from the largest user of metals.
At the Multi Commodity Exchange (MCX), the June contract fell 10.80, or 1.28%, to Rs 833.50 per kg in 1,407 lots.
The May contract went down by Rs 10, or 1.18%, to Rs 840.40 per kg in 169 lots.
Analysts said fall in nickel prices at futures trade was mostly in tandem with a weakening trend in the base metals at the London Metal Exchange (LME) after manufacturing in China unexpectedly contracted for the first time in seven months, indicating weaker demand from the largest user of metals.