Nickel futures down 1.49% on low demand

Nickel prices fell by 1.49 per cent to Rs 818.20 per kg in futures trade today as speculators trimmed their positions amid subdued demand from consuming industries in spot markets.
Further, the metal's weakness at the London Metal Exchange (LME) weighed on the prices.
At the Multi Commodity Exchange, nickel for delivery in March declined by Rs 12.40, or 1.49 per cent, to Rs 818.20 per kg in a business turnover of 1,783 lots.
The metal for delivery in April shed Rs 11.60, or 1.38 per cent, to Rs 828.30 per kg in 903 lots.
Analysts said the fall in nickel prices was mostly in tandem with a weak trend at the spot markets due to fall in demand from alloy-makers and metal's weakness at the LME.