Nickel futures fall 0.63% on low demand

Nickel prices fell by Rs 7.20 per cent to Rs 1,131.40 per kg in futures trade on Monday as traders cut bets tracking a weak trend at the spot market.

On the Multi Commodity Exchange, nickel for delivery in current month declined by Rs 7.20, or 0.63 per cent, to Rs 1,131.40 per kg in a business turnover of 11,691 lots.

Market analysts said the fall in nickel prices was mostly in sync with a weak trend at the spot market on muted demand from the alloy-makers.