Nickel futures decline on sluggish demand

NEW DELHI: Nickel prices fell 0.24 per cent to Rs 1,299.50 per kg in the futures trade on Monday after participants offloaded their positions amid weak demand in the spot market.

On the Multi Commodity Exchange, nickel contracts for the May delivery traded lower by Rs 3.10, or 0.24 per cent, to Rs 1,299.50 per kg with a business turnover of 1,881 lots.

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