Nickel futures down on global trend, subdued spot demand

NEW DELHI, Oct 31:  Nickel futures traded lower by 0.25 per cent to Rs 962.10 per kg today on a weakening trend overseas amidst subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in current month weakened by Rs 2.40, or 0.25 per cent, to Rs 962.10 per kg in a business turnover of 292 lots.
Similarly, the metal for delivery in November traded lower by Rs 1.10, or 0.22 per cent, to Rs 968.70 per kg in 163 lots.
Globally, nickel was down 0.4 per cent at USD 15,710 per tonne at the London Metal Exchange.
Market analysts said apart from weak demand from alloy makers at domestic spot markets, a weak trend in select base metals overseas, mainly weighed on nickel prices in futures trade here. (PTI)


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