Nickel futures down 0.87% on weak spot market cues

Nickel prices fell by 0.87 per cent to Rs 836.20 per kg in futures trade today as speculators cut their positions, taking negative cues from spot market on easing demand.

At the Multi Commodity Exchange, nickel for delivery in March declined by Rs 7.30, or 0.87 per cent, to Rs 836.20 per kg in business turnover of 1,156 lots.

Likewise, the metal for delivery in April contracts was trading lower by Rs 7, or 0.83 per cent, to Rs 840.40 per kg in 252 lots.

Market analysts said trimming of positions by participants on the back of low demand from alloy-makers in the physical market weighed on nickel futures.