Nickel futures soften 0.57 pc on profit-booking

Nickel prices were trading lower by 0.57 per cent to Rs 645.80 per kg in futures trade today amid profit-booking by speculators and easing demand at the domestic spot market.

At the Multi Commodity Exchange, nickel for delivery in July fell by Rs 3.70, or 0.57 per cent, to Rs 645.80 per kg in a business turnover of 824 lots.

Likewise, the metal for delivery in August was trading lower by Rs 3.60, or 0.55 per cent, to Rs 650.20 per kg in 272 lots.

Marketmen said profit-booking by participants at prevailing levels amid fall in demand from alloy-makers in the spot market, mainly influenced nickel prices at futures trade.