 "Nickel declines by 0.4% on overseas cues")
Nickel prices softened 0.45% to Rs 592.40 per kg in futures market today as speculators trimmed positions amidst a weak trend overseas and muted demand from alloy makers at the spot market.
At Multi Commodity Exchange, nickel for delivery this month traded lower by Rs 2.70, or 0.45%, to Rs 592.40 per kg in a turnover of 320 lots.
The metal for delivery in January next year weakened by Rs 1.30, or 0.22%, to Rs 600 per kg in six lots.
Analysts said apart from subdued demand from alloy makers in the domestic spot market, weakness in select base metals in global market mainly weighed on nickel futures here.
