 "Nickel down 0.5% on global cues")
Amid a weak global trend and low domestic demand, nickel prices declined 0.52% to Rs 907.60 per kg in futures trade today as speculators trimmed their positions.
Sentiment remained bearish after industrial metals retreated in global markets as manufacturing data from China fell below expectations.
At the Multi Commodity Exchange, nickel for delivery in January declined by Rs 4.70, or 0.52%, to Rs 907.60 per kg in a business turnover of 1,158 lots.
Market analysts said speculators trimmed their positions in line with a bearish global trend that put pressure on nickel prices at futures trade.
Meanwhile, nickel fell 0.3% to USD 14,750 a tonne at the London Metal Exchange.
Sentiment remained bearish after industrial metals retreated in global markets as manufacturing data from China fell below expectations.
At the Multi Commodity Exchange, nickel for delivery in January declined by Rs 4.70, or 0.52%, to Rs 907.60 per kg in a business turnover of 1,158 lots.
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Similarly, the metal for delivery in February shed Rs 4.50, or 0.49%, to Rs 913.50 per kg in 168 lots.
Market analysts said speculators trimmed their positions in line with a bearish global trend that put pressure on nickel prices at futures trade.
Meanwhile, nickel fell 0.3% to USD 14,750 a tonne at the London Metal Exchange.