Nickel futures drop 0.3% on sluggish demand

Nickel futures for March dropped by Rs 2.90, or 0.32% to Rs 907.20 per kg in 1,054 lots.

At the Multi Commodity Exchange (MCX), the April contract lost Rs 2.50, or 0.27% to Rs 914.80 per kg in 125 lots.

Prices went down as speculators reduced their holdings on sluggish demand from alloy-makers in the spot market.

Weak global trend pulled down nickel futures trade here.