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Nickel futures fall 0.49 pc on low demand

Nickel prices drifted lower by 0.49 per cent to Rs 834.30 per kg in futures trading Monday as speculators trimmed their positions amid muted spot demand.

On the Multi Commodity Exchange, nickel for delivery in May declined by Rs 4.10, or 0.49 per cent, to Rs 834.30 per kg in a business turnover of 13,651 lots.

Similarly, the metal for delivery in June traded lower by Rs 2.90, or 0.33 per cent, at Rs 865 per kg in 471 lots.

Low demand from alloy-makers in spot markets and profit-booking by speculators weighed on nickel prices here, analysts said.