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Nickel futures today traded lower by 0.45% to Rs 847 per kg largely in tune with a weakening trend overseas amid subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in July weakened by Rs 3.80 paise, or 0.45%, to Rs 847 per kg in business turnover of 173 lots.
Similarly, nickel for delivery in June traded lower by Rs 3.50, or 0.41%, to Rs 840.60 per kg in 2,404 lots.
Globally, nickel dropped 2.4% to $14,535 a tonne at the London Metal Exchange.
Market analysts said a weak trend overseas on concern that central banks including the US Federal Reserve will scale back measures aimed at spurring economic growth and subdued demand from alloy-makers in the spot market, mainly weighed on nickel prices at futures trade here.
