Nickel futures marginally down on weak overseas cues

Nickel futures traded marginally lower by 0.01 per cent to Rs 668.20 per kg today as speculators trimmed positions amid a weak trend overseas and fall in demand from alloy makers at the spot market.
At the Multi Commodity Exchange, nickel for delivery in October month declined by 10 paise, or 0.01 per cent to Rs 668.20 per kg in business turnover of 148 lots.
However, the metal for delivery in September contracts held steady at Rs 662.50 per kg in 2255 lots.
Analysts said apart from a weak trend overseas, easing demand from alloy makers in the domestic spot market, mainly weighed on nickel futures.

Globally, nickel for delivery in three-month slid 2.2 percent to USD 9,860 a metric tonne on the London Metal Exchange.