Nickel futures fall 1.17 pc on low demand

Nickel prices eased 1.17 per cent to Rs 1,001.60 per kg in futures trade Thursday as speculators trimmed their positions amid low demand at the spot market.

On the Multi Commodity Exchange, nickel for delivery in August declined by Rs 11.90, or 1.17 per cent, to Rs 1,001.60 per kg in a business turnover of 12,226 lots.

Likewise, the metal for delivery in September contracts traded lower by Rs 10.70, or 1.05 per cent, to Rs 1,008.80 per kg in 544 lots.

Analysts said, profit-booking by speculators amid low demand from alloy-makers mainly weighed on nickel futures here.