Nickel futures decline 0.70% on global cues

Nickel prices moved down by 0.70 per cent to Rs 881.70 per kg in futures trade in the evening session today as speculators reduced their exposures, driven by weak global cues.
The exchange opened for the evening session as it remained closed in the morning for 'Maharashtra Day'.
In futures trading at the Multi Commodity Exchange, nickel for delivery in May month fell by Rs 6.20, or 0.70 per cent to Rs 881.70 per kg in business turnover of 4,108 lots.
Likewise, the metal for delivery in June contracts traded lower by Rs 6.30 or 0.70 per cent to Rs 889 per kg in 108 lots.

Analysts attributed the fall in nickel futures to a weak global trend amid subdued demand from alloy-makers in the spot market.
Globally, nickel slid 0.2 per cent to USD 13,925 a metric tonne on the London Metal Exchange.