 "Nickel down by 0.1% on weak global cues")
Nickel futures today traded lower by 0.13% to Rs 593.60 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 February contracts weakened by 80 paise, or 0.13%, to Rs 593.60 per kg, in a business turnover of 269 lots.
Similarly, the metal for delivery in January traded lower by 20 paise, or 0.03%, to Rs 588.10 per kg in 1,071 lots.
Analysts said besides weak demand from alloy-makers at domestic spot markets, a weak trend in base metals overseas as Barclays Plc said it expects Chinese demand to grow at its slowest pace since 1998.
At the Multi Commodity Exchange, nickel for delivery in February contracts weakened by 80 paise, or 0.13%, to Rs 593.60 per kg, in a business turnover of 269 lots.
Similarly, the metal for delivery in January traded lower by 20 paise, or 0.03%, to Rs 588.10 per kg in 1,071 lots.
Analysts said besides weak demand from alloy-makers at domestic spot markets, a weak trend in base metals overseas as Barclays Plc said it expects Chinese demand to grow at its slowest pace since 1998.