Nickel futures shed 0.83% on profit-booking, subdued demand

Amid profit-booking by speculators, nickel prices fell by 0.83 per cent to Rs 732.80 per kg in futures market today as participants cut down their bets.
Also, tepid demand from consuming industries particularly alloy-makers, at the domestic spot markets, weighed on the prices.
At the Multi Commodity Exchange, nickel for delivery in current month was down by Rs 6.10 or 0.83 per cent to Rs 732.80 per kg in a business turnover of 1,298 lots.
In a similar fashion, the metal for delivery in April eased by Rs 5.30 or 0.71 per cent to Rs 738.60 per kg in 16 lots.

Analysts attributed the fall in nickel futures to profit-booking by participants at prevailing levels amid muted demand from alloy-makers at the domestic spot markets.