Nickel futures down 0.85% on low demand

Nickel prices fell 0.85 per cent to Rs 691.30 per kg in futures market today as traders engaged in reducing their bets, taking negative cues from spot market due to easing demand.
At the Multi Commodity Exchange, nickel for delivery in January month declined by Rs 5.90, or 0.85 per cent, to Rs 691.30 per kg in business turnover of 875 lots.
Similarly, the metal for delivery in February contracts moved down by Rs 5.70, or 0.81 per cent, to Rs 697.90 per kg in 45 lots.
Analysts said trimming of positions by participants on the back of subdued demand from alloy-makers in the spot market mainly kept nickel prices lower at futures trade.