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Nickel futures fall 0.06 pc on low demand

Nickel prices drifted lower by 0.06 per cent to Rs 832.70 per kg in futures trading Tuesday as speculators trimmed their positions amid muted spot demand.

On the Multi Commodity Exchange, nickel for delivery in May declined by 50 paise, or 0.06 per cent, to Rs 832.70 per kg in a business turnover of 13,423 lots.

Analysts said apart from low demand from alloy-makers in spot markets, profit-booking by speculators weighed on nickel futures prices.

On similar lines, the metal for delivery in June contracts was trading lower by Rs 1.19, or 0.22 per cent, to Rs 866.50 per kg in 2,349 lots.