Nickel futures fall 1.37 pc on low spot demand

Nickel futures declined by Rs 16.80 at Rs 1,209 per kg on Tuesday due to reducing of positions by speculators amid sluggish demand at the spot market.

On the Multi Commodity Exchange, nickel contracts for September delivery fell by Rs 16.80, or 1.37 per cent, to Rs 1,209 per kg with a business turnover of 9,200 lots.

Similarly, nickel contracts for October delivery fell by Rs 15.40, or 1.25 per cent, to Rs 1,214.50 per kg in 576 lots.

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