 "Nickel down by 0.7% on overseas cues")
Nickel fell by Rs 6.20 to Rs 846.80 per kg in futures trade today as speculators reduced positions amid weak cues from global markets and subdued demand in domestic spot markets.
At the Multi Commodity Exchange, nickel for delivery in April shed Rs 6.20 or 0.73% to Rs 846.80 per kg in a business turnover of 311 lots.
The metal for delivery in May also fell by Rs 5.60 or 0.65% to Rs 854.50 per kg in a turnover of 127 lots.
Globally, nickel for delivery in three months on the London Metal Exchange slipped 0.7% to $13,450 per tonne.
At the Multi Commodity Exchange, nickel for delivery in April shed Rs 6.20 or 0.73% to Rs 846.80 per kg in a business turnover of 311 lots.
The metal for delivery in May also fell by Rs 5.60 or 0.65% to Rs 854.50 per kg in a turnover of 127 lots.
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Analysts said the fall in nickel prices in futures trade was mostly in tandem with a weakening trend in overseas market, where it fell from one-month high after a union at the world's second-largest ferro-nickel mine said it was closer to a deal to end its strike.
Globally, nickel for delivery in three months on the London Metal Exchange slipped 0.7% to $13,450 per tonne.