Nickel futures marginally down by 0.18 per cent

NEW DELHI: Amid a weakening trend overseas and subdued demand from alloy-makers, nickel futures prices today fell marginally by 0.18 per cent.

At the Multi Commodity Exchange, nickel for delivery in May weakened by Rs 1.70, or 0.18 per cent, to Rs 939.30 per kg in business turnover of 239 lots.

Similarly, the metal for delivery in April traded lower by Rs 1.60, or 0.17 per cent, to Rs 928.30 per kg in 1,359 lots.

Market analysts said subdued demand from alloy-makers in the domestic spot market and weak trend in overseas market mainly kept pressure on the nickel prices at futures trade.

Meanwhile, nickel declined 1.6 per cent to USD 18,150 a tonne on the London Metal Exchange.