 "Nickel falls by 0.8% as global cues")
Taking weak cues from overseas market and subdued demand at the domestic spot market, nickel prices were down by 0.83% to Rs 633.10 per kg in futures trade today as participants cut down their bets.
At Multi Commodity Exchange, nickel for delivery in November was trading lower by Rs 5.30, or 0.83%, to Rs 633.10 per kg in a business turnover of 944 lots.
The metal for delivery in December also lost Rs 5.10, or 0.79%, to Rs 639.90 per kg in a turnover of 76 lots.
Globally, at the LME, nickel used in stainless steel fell as much as 1.6% at $9,425 per tonne.
At Multi Commodity Exchange, nickel for delivery in November was trading lower by Rs 5.30, or 0.83%, to Rs 633.10 per kg in a business turnover of 944 lots.
The metal for delivery in December also lost Rs 5.10, or 0.79%, to Rs 639.90 per kg in a turnover of 76 lots.
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Analysts said the fall is mostly in line with a weakening trend in the base metals pack at the London Metal Exchange (LME) after Chinese inflation data were weaker than expected, deepening concern about a slowdown in the world's biggest consumer.
Globally, at the LME, nickel used in stainless steel fell as much as 1.6% at $9,425 per tonne.