Nickel futures slip on global cues

Nickel futures prices fell by Rs 7.70 to Rs 1,105.40 per kg today, largely in tandem with a weak trend in the base metals pack at the London Metal Exchange (LME).

At the Multi Commodity Exchange counter, lead prices fell by Rs 7.70, or 0.69 per cent, to Rs 1105.40 per kg, with a trade volume of 29 lots. 

Similarly, the metal for delivery in December declined by Rs 6.70, or 0.61 per cent, to Rs 1,085 per kg, with a trade volume of just two lots.

Analysts said a weak trend in the base metals pack at LME due to sluggish demand from China, the world's largest consumer of metals, mainly weighed on the nickel futures prices here. 

Meanwhile, nickel remained unchanged at $24,050 per tonne at the LME.