 "Nickel declines 0.21% in futures on profit-booking")
Nickel prices softened by 0.21 per cent to Rs 1,104.70 per kg in futures market today as speculators booked profits amid low demand from alloy-makers in the spot market.
Further, weakness in base metals at the London Metal Exchange (LME) also weighed on prices.
At the Multi Commodity Exchange, Nickel for delivery in July traded lower by Rs 2.30, or 0.21 per cent, to Rs 1,104.70 per kg in business turnover of 43 lots.
Analysts said apart from profit-booking by speculators, subdued demand from alloy-makers in the spot market and weakness in base metals pack at the LME on signs of slowing demand in China mainly influenced Nickel prices in futures trade.
Further, weakness in base metals at the London Metal Exchange (LME) also weighed on prices.
At the Multi Commodity Exchange, Nickel for delivery in July traded lower by Rs 2.30, or 0.21 per cent, to Rs 1,104.70 per kg in business turnover of 43 lots.
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The June contract lost Rs 2.20, or 0.20 per cent, to Rs 1098.10 per kg in 863 lots.
Analysts said apart from profit-booking by speculators, subdued demand from alloy-makers in the spot market and weakness in base metals pack at the LME on signs of slowing demand in China mainly influenced Nickel prices in futures trade.