 "Nickel melts at 0.4% as global cues")
Tracking a weak trend in base metals overseas and subdued demand at the domestic spot market, nickel prices fell 0.41% to Rs 658.60 per kg in futures trade today as traders cut down their bets.
At Multi Commodity Exchange, nickel for delivery in current month was trading lower by Rs 2.70, or 0.41% to Rs 658.60 per kg in a business turnover of 1,239 lots.
The metal for delivery in October also lost Rs 2, or 0.30%, to Rs 666.10 per kg in a turnover of 63 lots.
Analysts said the fall is mostly in line with a weakening trend in the base metals pack at the London Metal Exchange (LME) and muted demand from alloy-makers at the domestic spot markets.
At Multi Commodity Exchange, nickel for delivery in current month was trading lower by Rs 2.70, or 0.41% to Rs 658.60 per kg in a business turnover of 1,239 lots.
The metal for delivery in October also lost Rs 2, or 0.30%, to Rs 666.10 per kg in a turnover of 63 lots.
Analysts said the fall is mostly in line with a weakening trend in the base metals pack at the London Metal Exchange (LME) and muted demand from alloy-makers at the domestic spot markets.