Nickel futures soften by 0.19 pc, hurt by low demand

Tracking a weak trend at the domestic spot markets due to tepid demand, nickel prices traded lower by 0.19 per cent to Rs 572.40 per kg in futures trade today as participants cut down their bets.
At the Multi Commodity Exchange, nickel for delivery in July fell by Rs 1.10, or 0.19 per cent, to Rs 572.40 per kg, in a business turnover of 77 lots.
Likewise, the metal for delivery in June traded lower by 90 paise, or 0.16 per cent, to Rs 567 per kg in 1,609 lots.
Analysts attributed the slide in nickel futures to a weak trend at the physical markets due to fall in demand from alloy-makers.