Nickel futures drop on sluggish demand

NEW DELHI: Nickel prices on Friday fell 0.56 per cent to Rs 1,310.80 per kg in the futures trade after participants offloaded their positions amid weak demand in the spot market.

On the Multi Commodity Exchange, nickel contracts for the June delivery traded lower by Rs 7.40, or 0.56 per cent, to Rs 1,310.80 per kg with a business turnover of 2,037 lots.

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