Nickel futures remain weak, shed 0.12 pc on muted spot demand

Nickel remained weak and prices declined by another 0.12 per cent to Rs 664.80 per kg in futures trading today as speculators engaged in reducing positions, driven by easing demand from alloy-makers in the domestic spot market.

At the Multi Commodity Exchange, nickel for delivery in April fell by 80 paise, or 0.12 per cent to Rs 664.80 per kg in business turnover of 190 lots.

On similar lines, the metal for delivery in March shed 50 paise, or 0.08 per cent, to Rs 657.90 per kg in 1,738 lots.

Market analysts said, the fall in nickel prices at futures trade was mostly on trimming of positions by traders due to drop in demand from alloy-makers at the domestic spot markets.

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