Nickel futures dip 0.99% on global cues

Nickel prices moved down 0.99 per cent to Rs 661.50 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 'Ganesh Chaturthi'.
In futures trading at the Multi Commodity Exchange, nickel for delivery in current month fell by Rs 6.60, or 0.99 per cent to Rs 661.50 per kg in a business turnover of 4,293 lots.
Likewise, the metal for delivery in October contracts traded lower by Rs 6, or 0.89 per cent to Rs 668.70 per kg in 288 lots.

Analysts attributed the fall in nickel futures to a weak global trend in the base metals pack amid subdued demand from alloy-makers at the spot market.
Globally, nickel dropped 2 per cent to USD 9,925 a metric tonne on the London Metal Exchange.