Nickel drops marginally on sluggish demand

Nickel futures for March dropped by 60 paise, or 0.07%, to Rs 910.40 per kg in 1,162 lots.     

At the Multi Commodity Exchange (MCX), the April contract shed 50 paise, or 0.05%, to Rs 917.90 per kg in 48 lots.

Nickel prices were affected as participants trimmed their holdings.

Sluggish demand from alloy-makers in the spot market also has a negative effect.

Weak global trend on demand concerns mainly led to the decline in nickel futures trade here.