NEW DELHI, Oct 15: Nickel futures today traded a shade lower at Rs 861.70 per kg largely in tune with a weakening trend overseas amid subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in October shed 40 paise, or 0.05 per cent, to Rs 861.70 per kg in business turnover of 466 lots.
The metal for delivery in November also fell by a similar margin to Rs 870.40 per kg in 8 lots.
Globally, nickel prices retreated 0.2 per cent at the London Metal Exchange (LME).
Market analysts said apart from sluggish demand from alloy-makers at domestic spot markets, a weak trend at the LME as dealers nervously wait for US lawmakers to agree a budget deal and raise the country’s borrowing limit to avert a default, mainly weighed on nickel prices at futures trade here. (PTI)
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