 "Nickel falls by 0.9% on weak global cues")
Nickel prices dropped 0.91% to Rs 629.50 per kg in futures trade today as traders cut down their bets, taking weak cues from global market and low demand at the domestic spot market.
At Multi Commodity Exchange, nickel for delivery in far-month August month was trading Rs 5.80, or 0.91%, down at Rs 629.50 per kg in a business turnover of 71 lots.
The metal for delivery in July month also shed Rs 2.40 or 0.38%, to Rs 623.50 per kg in a turnover of 306 lots.
Analysts said the fall in nickel prices in futures trade is mostly attributed to a weakening trend in base metal at the London Metal Exchange (LME) and easing demand from alloy-makers at the domestic spot market.
At Multi Commodity Exchange, nickel for delivery in far-month August month was trading Rs 5.80, or 0.91%, down at Rs 629.50 per kg in a business turnover of 71 lots.
The metal for delivery in July month also shed Rs 2.40 or 0.38%, to Rs 623.50 per kg in a turnover of 306 lots.
Analysts said the fall in nickel prices in futures trade is mostly attributed to a weakening trend in base metal at the London Metal Exchange (LME) and easing demand from alloy-makers at the domestic spot market.