Nickel futures down 0.84% on low demand

Nickel prices fell 0.84 per cent to Rs 802.30 per kg in futures market today as traders engaged in reducing bets, taking negative cues from spot market due to easing demand.
However, a firm trend in metal overseas, capped the fall.
At the Multi Commodity Exchange, nickel for delivery in January declined by Rs 6.80, or 0.84 per cent, to Rs 802.30 per kg in business turnover of 1,717 lots.
Similarly, the metal for delivery in February moved down by Rs 6.20, or 0.76 per cent, to Rs 808 per kg in 17 lots.
Analysts said trimming of positions by participants on the back of subdued demand from alloy-makers in the spot markets mainly kept nickel prices lower at futures trade.