 "Nickel falls by 0.6% on weak global cues")
Nickel futures today traded lower by Rs 4.20 to Rs 670.80 per kg, largely in tune with a weak overseas trend amid subdued demand at domestic spot markets.
At the Multi Commodity Exchange, nickel for delivery in October weakened by Rs 4.20, or 0.62%, to Rs 670.80 per kg, in a business turnover of 938 lots.
Similarly, the metal for delivery in November traded lower by Rs 3.90, or 0.57%, to Rs 676.80 per kg in 912 lots.
Analysts said besides weak demand from alloy-makers at domestic spot markets, a weak trend in base metals overseas after the US Federal Reserve indicated it's still considering an interest-rate hike this year, reducing demand for commodities, weighed on nickel prices in futures trade here.
At the Multi Commodity Exchange, nickel for delivery in October weakened by Rs 4.20, or 0.62%, to Rs 670.80 per kg, in a business turnover of 938 lots.
Similarly, the metal for delivery in November traded lower by Rs 3.90, or 0.57%, to Rs 676.80 per kg in 912 lots.
Analysts said besides weak demand from alloy-makers at domestic spot markets, a weak trend in base metals overseas after the US Federal Reserve indicated it's still considering an interest-rate hike this year, reducing demand for commodities, weighed on nickel prices in futures trade here.