Nickel falls by 0.6% on subdued spot demand

Weakening trend at domestic spot markets weighed on prices

Nickel prices fell by 0.65% to Rs 868.90 per kg in futures trade today amid sluggish demand from alloy-makers in the domestic spot market.

At the Multi Commodity Exchange, nickel for delivery in April shed Rs 5.70, or 0.65%, to Rs 868.90 per kg in a business turnover of 45 lots.

The metal for delivery in March also fell by Rs 5.50, or 0.63%, to Rs 861.10 per kg in a turnover of 808 lots.

Market analysts said the fall in nickel prices at futures trade was mostly in tune with a weakening trend at domestic spot markets due to subdued demand from alloy-makers but metal's strength at the London Metal Exchange, limited the fall.