Nickel futures remain weak, shed 0.12% as demand declines

Nickel prices fell another 0.12 per cent to Rs 880.80 per kg in futures market today as speculators pared their positions, taking negative cues from the spot market on tepid demand from alloy-makers.
At the Multi Commodity Exchange, nickel for delivery in April month declined by Rs 1.10, or 0.12 per cent to Rs 880.80 per kg in business turnover of 24 lots.
Similarly, the metal for delivery in March contracts shed Re 1, or 0.11 per cent to Rs 876.80 per kg in 1,436 lots.
Market analysts said offloading of positions by traders due to easing demand from alloy-makers in the physical market kept nickel prices down in futures trade.