Nickel futures decline 0.60 pc on profit-booking

Nickel prices declined by 0.60 per cent to Rs 992 per kg in futures trading today as speculators booked profits amid sluggish demand from alloy-makers in the spot market.
The Multi Commodity Exchange (MCX) opened for the evening session and remained closed for the morning session for 'Ram Navami'.
At the MCE, nickel for delivery in April declined by Rs 6, or 0.60 per cent to Rs 992 per kg in business turnover of 3,000 lots.
Likewise, the metal for delivery in May contract traded lower by Rs 5.10, or 0.51 per cent to Rs 999 per kg in 260 lots.

Analysts said besides profit-booking by speculators, sluggish demand from alloy-makers in the spot market mainly influenced nickel prices at futures trade.