 "Nickel down by 0.5% on global trend")
Nickel futures traded lower by 0.50% to Rs 947.80 per kg today, taking weak cues from overseas markets amid subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in current month weakened by Rs 4.80, or 0.50%, to Rs 947.80 per kg in a business turnover of 990 lots.
Similarly, the metal for delivery in December traded lower by Rs 4.70, or 0.49%, to Rs 955.30 per kg in 70 lots.
Market analysts said apart from weak demand from alloy makers at domestic spot markets, a weak trend in base metals overseas, as a stronger dollar lowered the attractiveness of commodities priced in the greenback as an alternative investment, mainly weighed on nickel prices in futures trade here.
At the Multi Commodity Exchange, nickel for delivery in current month weakened by Rs 4.80, or 0.50%, to Rs 947.80 per kg in a business turnover of 990 lots.
Similarly, the metal for delivery in December traded lower by Rs 4.70, or 0.49%, to Rs 955.30 per kg in 70 lots.
Market analysts said apart from weak demand from alloy makers at domestic spot markets, a weak trend in base metals overseas, as a stronger dollar lowered the attractiveness of commodities priced in the greenback as an alternative investment, mainly weighed on nickel prices in futures trade here.