Nickel futures remain weak on low demand

Nickel prices fell further by 0.84 per cent to Rs 686.10 per kg in futures market today as speculators engaged in reducing their positions, taking negative cues from spot market on tepid demand from consuming.
At the Multi Commodity Exchange, nickel for delivery in November month fell by Rs 5.80, or 0.84 per cent to Rs 686.10 per kg in business turnover of 984 lots.
Similarly, the metal for delivery in October month contracts moved down by Rs 5.40, or 0.79 per cent to Rs 680.40 per kg in 8,321 lots.
Market analysts said trimming of positions by traders owing to slackened demand from alloy-makers in the physical market mainly kept nickel prices at lower at futures trade.