Nickel prices fell by 0.58 per cent to Rs 871.50 per kg in futures trade today as speculators trimmed exposures amid sluggish demand from alloy-makers in the spot market and a weak global trend.
At the Multi Commodity Exchange, nickel for delivery in January declined by Rs 5.10, or 0.58 per cent to Rs 871.50 per kg in business turnover of 5,430 lots.
Likewise, the metal for delivery in February traded lower by the same margin to Rs 878.90 per kg in 2,192 lots.
Market analysts said subdued demand from alloy-makers in the spot market and a weak trend in base metals in the overseas markets as China's manufacturing contracted and the US Federal Reserve reduced economic stimulus,mainly influenced nickel prices at futures trade.
