Nickel futures remain weak, shed 1.09% on low demand

Nickel prices eased further by 1.09 per cent to Rs 792.30 per kg in futures trade today as speculators cut bets, tracking a weak trend in the spot market on easing demand.
At the Multi Commodity Exchange, nickel for delivery in January fell Rs 8.70, or 1.09 per cent, to Rs 792.30 per kg in business turnover of 8,796 lots.
Likewise, the metal for delivery in February contracts was trading Rs 8.10, or 1.01 per cent, lower at Rs 797.50 per kg in 215 lots.
Analysts said participants offloaded positions on account of slackened demand from alloy-makers in the spot market, which kept prices down in futures trade.