Nickel futures slip 0.90% on muted demand

Nickel prices fell by 0.90 per cent to Rs 859 per kg in futures trade today as speculators cut bets amid a weak trend in the global markets and tepid domestic demand.

At the Multi Commodity Exchange, nickel for delivery in February declined Rs 7.80, or 0.90 per cent, to Rs 859 per kg in a business turnover of 1,137 lots.

Metal for delivery in March also fell by a similar margin to trade at Rs 863 per kg in 20 lots.

Analysts said the fall in nickel prices was mostly in line with a weak trend in base metals overseas amid easing demand from alloy-makers in the physical market.