Nickel futures slip 0.71% as participants trim positions

NEW DELHI, Jan 1: Nickel prices were trading 0.71 per cent lower at Rs 813.30 per kg in futures trade today after participants cut bets amid subdued demand in the domestic spot market.

At the Multi Commodity Exchange, nickel for delivery in January was trading Rs 5.80, or 0.71 per cent, lower at Rs 813.30 per kg in business turnover of 868 lots.

The metal for delivery in February also lost Rs 5.40, or 0.66 per cent, and was trading at Rs 818.50 per kg in a turnover of 9 lots.

Analysts said, the fall in prices was due to low demand from alloy-makers amid profit-booking at the existing level. (PTI)