Nickel loses 0.8% on subdued demand

Low offtake from alloy makers lead to a fall, but firmness in entire base metals pack at LME caps decline

Nickel futures prices fell 0.80 per cent to Rs 920.90 per kg today as participants trimmed their positions amid subdued spot demand and weakening trend in other base metals.     

At the Multi Commodity Exchange, nickel for delivery in April traded Rs 7.40, or 0.80 per cent lower at Rs 920.90 per kg, with a business turnover of 105 lots.     

March nickel declined by Rs 7.20, or 0.78 per cent, to Rs 914.50 per kg, with a business turnover of 1,670 lots.     

Market participants said sluggish demand from alloy makers mainly led to a fall in nickel prices at futures trade here but firmness in the entire base metals pack at the London Metal Exchange, capped the fall.