Nickel futures dip on soft demand
Nickel futures on Tuesday declined by Rs 4.50 at Rs 1,094 per kg due to reducing of positions by speculators amid sluggish demand at the spot market.
On the Multi Commodity Exchange, nickel contracts for November delivery fell by Rs 4.50, or 0.41 per cent, at Rs 1,094 per kg with a business turnover of 5,006 lots.
Similarly, nickel contracts for December delivery fell by Rs 3.40, or 0.31 per cent, to Rs 1,088 per kg in 128 lots.
Analysts said subdued demand at the spot market mainly led to fall in nickel futures prices here.
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