Nickel falls by 0.5% on sluggish demand

Nickel prices shed 0.46% to Rs 931.30 per kg in futures trading today as speculators reduced positions amid a weak trend at spot market on subdued demand from consuming industries.

At the Multi Commodity Exchange, nickel for delivery in February fell by Rs 4.30, or 0.46%, to Rs 931.30 per kg in a business turnover of 275 lots.

Likewise, the metal for delivery in March shed Rs 4.20, or 0.45%, to Rs 938.80 per kg in three lots.

Analysts said offloading of positions by speculators on the back of subdued demand from alloy makers in the spot market weakened trading sentiments here.