 "Nickel down 0.5% on global trends, subdued spot demand")
Nickel futures today traded lower by 0.51% to Rs 1,081.20 per kg largely in tune with weak overseas trend.
At the Multi Commodity Exchange, nickel for delivery in July weakened by Rs 5.50 paise, or 0.51%, to Rs 1,081.20 per kg in business turnover of 112 lots.
Similarly, the metal for delivery in June traded lower by Rs 5.10, or 0.47%, to Rs 1,076.90 per kg in 2,304 lots.
Market analysts said apart from weak demand from alloy-makers at domestic spot markets, a weak trend overseas mainly weighed on nickel prices at futures trade here.
At the Multi Commodity Exchange, nickel for delivery in July weakened by Rs 5.50 paise, or 0.51%, to Rs 1,081.20 per kg in business turnover of 112 lots.
Similarly, the metal for delivery in June traded lower by Rs 5.10, or 0.47%, to Rs 1,076.90 per kg in 2,304 lots.
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Globally, nickel dropped 0.4%, to $18,228 per tonne at the London Metal Exchange after stockpiles rose to a record.
Market analysts said apart from weak demand from alloy-makers at domestic spot markets, a weak trend overseas mainly weighed on nickel prices at futures trade here.