Nickel futures decline on sluggish demand

Nickel prices fell by Rs 15 to Rs 1,199.40 per kg in futures trading today as speculators indulged in off-loading their positions driven by sluggish demand from alloy-makers in spot markets. 

At the Multi Commodity Exchange, copper for delivery in June fell by Rs 15, or 1.24% to Rs 1,199.40 per kg, with a business turnover of two lots.

Likewise, the metal for delivery in May lost Rs 14.70, or 1.22% to Rs 1,189.80 per kg, with business volume of three lots.   

Analysts said sluggish demand from alloy-makers mainly led to fall in nickel futures prices.