Nickel futures soften 0.22% on weak spot cues

Nickel prices declined by 0.22 per cent, to Rs 922.70 per kg in futures market Thursday as participants trimmed their bets, taking negative cues from the spot market on muted demand from alloy-makers.

At the Multi Commodity Exchange, nickel to be delivered this month fell by Rs 2, or 0.22 per cent to Rs 922.70 per kg in a business turnover of 800 lots

Marketmen said cutting down of positions by traders due to muted demand form alloy-makers in the physical markets attributed the slide in nickel prices at futures trade.