Nickel futures drop 1.03% on muted demand

NEW DELHI, Dec 27: Nickel prices edged 1.03 per cent lower to Rs 766 per kg in futures market today as speculators cut bets on account of tepid demand in the spot market.
At the Multi Commodity Exchange, nickel for delivery in January fell Rs 8, or 1.03 per cent, to Rs 766 per kg in business turnover of 753 lots.
Similarly, the metal’s contracts for delivery in December shed Rs 6.30, or 0.82 per cent, to trade at Rs 761.40 per kg in 1,126 lots.
Analysts said, low demand from alloy-makers in the physical market led to offloading of positions by participants in futures trade.


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