Nickel futures fall on overseas trend, subdued demand

Nickel futures traded 1.37 per cent lower at Rs 642.80 per kg today amid a weakening trend at the London Metal Exchange (LME) and sluggish demand from alloy-makers in the domestic spot market.

At the Multi Commodity Exchange, nickel for delivery in April fell Rs 8.90, or 1.37 per cent, to Rs 642.80 per kg in a business turnover of 127 lots.

On similar lines, metal for delivery in current month was trading lower by Rs 8.60, or 1.33 per cent, at Rs 635.70 per kg in 529 lots.

Market analysts said fall in nickel prices was mostly in line with a weak trend at the London Metal Exchange as copper and other industrial metals retreated and muted demand from alloy-maekrs and other consuming industries at the domestic spot markets.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)