Nickel futures slide on tepid demand

Nickel prices on Thursday fell 1.07 per cent to Rs 923 per kg in futures trade after participants trimmed their positions amid weak demand in spot market.

On the Multi Commodity Exchange, nickel contracts for March delivery fell by Rs 10, or 1.07 per cent, to Rs 923 per kg with a business turnover of 3,702 lots.

Similarly, nickel contracts for April delivery dropped by Rs 10.10, or 1.08 per cent, to Rs 922 per kg in 65 lots.

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