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Nickel futures today traded lower by 0.68% to Rs 931.20 per kg largely in tune with a weakening trend overseas amid subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in November weakened by Rs 6.20, or 0.68%, to Rs 931.20 per kg in business turnover of 743 lots.
Similarly, the metal for delivery December month traded lower by Rs 6.10, or 0.65%, to Rs 937.80 per kg in 44 lots.
Globally, nickel moved down 0.60% to USD 15,184 per tonne at the London Metal Exchange (LME).
Market analysts said apart from weak demand from alloy-makers at domestic spot markets, a weak trend overseas after the European Commission cut growth forecasts for the euro area, dampening the demand outlook for industrial metals, mainly weighed on nickel prices in futures trade here.
