 "Nickel down 0.5% on global cues, low demand")
Nickel futures today traded 0.55 per cent lower at Rs 722.70 per kg prices as speculators offloaded positions after the metal weakened in global markets.
Furthermore, low demand from alloy-makers and other consuming industries at the domestic spot markets also weighed on the prices.
Nickel for delivery in July eased by Rs 4, to Rs 722.70 per kg in a turnover of 641 lots in futures trading at the Multi Commodity Exchange.
Analysts said nickel prices fell largely in tune with the weakening trend in overseas market. Easing demand from alloy-makers at domestic spot markets also put pressure on the metal.
Globally, nickel fell 0.3 per cent at the London Metal Exchange.
Furthermore, low demand from alloy-makers and other consuming industries at the domestic spot markets also weighed on the prices.
Nickel for delivery in July eased by Rs 4, to Rs 722.70 per kg in a turnover of 641 lots in futures trading at the Multi Commodity Exchange.
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The metal for delivery in August fell by Rs 4 or 0.54 per cent, to Rs 730.10 per kg in 60 lots.
Analysts said nickel prices fell largely in tune with the weakening trend in overseas market. Easing demand from alloy-makers at domestic spot markets also put pressure on the metal.
Globally, nickel fell 0.3 per cent at the London Metal Exchange.