Nickel futures slip 0.20% on profit-booking, tepid demand

Amid profit-booking by speculators, nickel prices drifted lower by 0.20 per cent to Rs 655.60 per kg in futures trading today .

Besides, low demand from consuming industries at the domestic spot markets, weighed on the prices.

At the Multi Commodity Exchange, nickel for delivery in January declined by Rs 1.30, or 0.20 per cent to Rs 655.60 per kg in business turnover of 2,649 lots.

Similarly, the metal for delivery in February contracts shed 90 paise, or 0.14 per cent to Rs 662 per kg in 2,131 lots.

Analysts said besides profit-booking by participants, fall in demand from alloy-makers in the spot market mainly led to decline in nickel prices at futures trade.