 "Nickel down by 0.9% on global trends")
Nickel futures today traded lower by 0.92% to Rs 1,191.20 per kg largely in tune with a weakening trend overseas amidst subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in current month weakened by Rs 11.10, or 0.92%, to Rs 1,191.20 per kg in business turnover of 1,250 lots.
Similarly, the metal for delivery October month traded lower by Rs 11.40, or 0.94%, to Rs 1,197 per kg in 38 lots.
Market analysts said apart from weak demand from alloy-makers at domestic spot markets, a weak trend overseas as the dollar climbed, curbing demand for commodities as an investment, mainly weighed on nickel prices in futures trade here.
At the Multi Commodity Exchange, nickel for delivery in current month weakened by Rs 11.10, or 0.92%, to Rs 1,191.20 per kg in business turnover of 1,250 lots.
Similarly, the metal for delivery October month traded lower by Rs 11.40, or 0.94%, to Rs 1,197 per kg in 38 lots.
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Globally, nickel was down 1.4% at $19,645 per tonne at the London Metal Exchange.
Market analysts said apart from weak demand from alloy-makers at domestic spot markets, a weak trend overseas as the dollar climbed, curbing demand for commodities as an investment, mainly weighed on nickel prices in futures trade here.