Nickel futures slide 0.34 pc on subdued demand

Nickel prices softened by 0.34 per cent to Rs 933.70 per kg in futures trade Wednesday as participants cut down their holdings amid muted demand from consuming industries at spot market.

At the Multi Commodity Exchange, nickel for delivery in September fell by Rs 3.20, or 0.34 per cent, to Rs 933.70 per kg in a business turnover of 678 lots.

On similar lines, the metal for October moved down by Rs 2.80, or 0.30 per cent, to Rs 939.30 per kg in 74 lots.

Market analysts attributed the fall in nickel prices in futures trade to trimming of positions by participants amid muted demand from consuming industries in the spot market.