Nickel futures down on sluggish demand

Amid a weak spot market trend on sluggish demand from alloy-makers, nickel prices fell by Rs 12.10 to Rs 991.10 per kg in futures trade today.  

At the Multi Commodity Exchange, nickel for November delivery fell by Rs 12.10, or 1.21%, to Rs 991.10 per kg, with an open interest of a single lot.

Similarly, the metal for August delivery lost Rs 8.40, or 0.86%, to Rs 969.70 per kg, with a trade volume of 4,522 lots. 

Market analysts said a weak trend at the spot market on sluggish demand, mainly led to the fall in nickel prices at futures trade.