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Nickel futures drop on soft demand

Press Trust of India  |  New Delhi 

Nickel futures on Tuesday declined by 90 paise to Rs 1,009 per kg due to reducing of positions by speculators amid sluggish demand in spot market.

On the Multi Commodity Exchange, nickel contracts for December delivery fell by 90 paise, or 0.09 per cent, to Rs 1,009 per kg with a business turnover of 2,107 lots.

Similarly, nickel contracts for January delivery fell by Rs 1.80, or 0.18 per cent, to Rs 1,006 per kg in 25 lots.

Analysts said subdued demand in spot market mainly led to fall in nickel futures prices here.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 03 2019. 12:20 IST