Nickel futures slip 0.13% on profit-booking

NEW DELHI, July 31: Nickel drifted down by 0.13 per cent to Rs 951.60 per kg in futures market today as speculators booked profits, driven by a fall in demand in the spot market.
At the Multi Commodity Exchange, nickel for delivery in August declined by Rs 1.20, or 0.13 per cent, to Rs 951.60 per kg in a business turnover of 638 lots.
Likewise, the metal for delivery in July contracts traded lower by 60 paise, or 0.06 per cent, to Rs 946.30 per kg in 1063 lots.
Market analysts said besides profit-booking by participants, fall in demand from alloy-makers in the physical markets, weighed on nickel prices in futures trade. (PTI)