Nickel futures slide 0.46 pc on muted demand

Nickel prices declined by 0.46 per cent to Rs 751.20 per kg in futures trade today as speculators cut down bets, driven by easing demand in the spot market.

At the Multi Commodity Exchange, nickel for delivery in September fell by Rs 3.50, or 0.46 per cent, to Rs 751.20 per kg, in a business turnover of 182 lots.

Likewise, the metal for delivery in August shed Rs 3.30, or 0.44 per cent, to Rs 747.20 per kg in 536 lots.

Analysts said offloading of positions by participants on the back of sluggish demand from alloy-makers in the spot market, mainly weighed on nickel prices at futures trade.