 "Nickel down by 0.5% on overseas trends")
Nickel prices dropped by Rs 3.30 to Rs 675.30 per kg in futures trade today in tandem with a weakening trend at the London Metal Exchange and sluggish demand from alloy-makers in the domestic spot market.
In futures trade at the Multi Commodity Exchange, nickel for delivery in current month contracts fell by Rs 3.30, or 0.49%, to Rs 675.30 per kg in a business turnover of 2,486 lots.
The metal for delivery in November also fell Rs 3.10, or 0.45%, to Rs 682.40 per kg in a turnover of 107 lots.
Analysts attributed fall in nickel prices at futures trade to a weakening trend in the base metals pack at the London Metal Exchange (LME) on concern that demand was weakening in China, the biggest consumer.
Besides, subdued demand from alloy-makers at the domestic spot markets weighed on metal prices, they said.
