Nickel falls on sluggish demand

Nickel prices fell by Rs 8.10 to Rs 1,002.40 per kg in futures trade today due to sluggish demand from alloy-makers in the spot market.

At the Multi Commodity Exchange, August nickel fell by Rs 8.10, or 0.80%, to Rs 1,002.40 per kg, with a business turnover of 4,673 lots.

The September contract lost Rs 7, or 0.69%, to Rs 1,009.80 per kg in 3,795 lots.

Market analysts said sluggish demand from alloy-makers in the spot market mainly led to fall in nickel prices in futures trade here.