Nickel futures down on muted demand, shed 0.47%

Nickel prices eased by 0.47 per cent to Rs 822.30 per kg in futures market today due to muted demand at spot markets.

At the Multi Commodity Exchange, nickel for delivery in current month declined by Rs 3.90, or 0.47 per cent to Rs 822.30 per kg in business turnover of 786 lots.

The metal for delivery in December was trading lower by Rs 3.80, or 0.46 per cent to Rs 827.20 per kg in 18 lots.

Analysts said the metal declined due to offloading of positions by participants after a slackened demand from alloy-makers at spot markets.