Nickel falls by 0.6% on weak global cues

Subdued demand at domestic spot markets also affected prices

Nickel futures today traded lower by Rs 4.20 to Rs 670.80 per kg, largely in tune with a weak overseas trend amid subdued demand at domestic spot markets.

At the Multi Commodity Exchange, nickel for delivery in October weakened by Rs 4.20, or 0.62%, to Rs 670.80 per kg, in a business turnover of 938 lots.

Similarly, the metal for delivery in November traded lower by Rs 3.90, or 0.57%, to Rs 676.80 per kg in 912 lots.

Analysts said besides weak demand from alloy-makers at domestic spot markets, a weak trend in base metals overseas after the US Federal Reserve indicated it's still considering an interest-rate hike this year, reducing demand for commodities, weighed on nickel prices in futures trade here.