Nickel futures soften by 0.07% on weak spot cues

Nickel prices shed 0.07 per cent to Rs 889.50 per kg in futures trading Tuesday as speculators reduced their exposure, taking negative cues from the spot market on muted demand from alloy-makers.

At the Multi Commodity Exchange, nickel for delivery in March fell by 60 paise, or 0.07 per cent to Rs 889.50 per kg in business turnover 1,369 lots.

Market analysts said cutting down of positions by traders owing to slackened demand from alloy-makers in the physical market attributed the slide in nickel prices at futures trade.