Nickel futures slip on profit-booking, muted spot demand

Nickel traded 0.18 per cent lower at Rs 781 per kg in futures trade today due to profit-booking by speculators and subdued domestic demand.

In futures trading at the Multi Commodity Exchange, nickel for delivery in September was trading down by Rs 1.40, or 0.18 per cent, at Rs 781 per kg in a business turnover of 1,154 lots.

The metal for delivery October was also down by Re 1, or 0.13 per cent, to Rs 785.60 per kg in a business turnover of 14 lots.

Analysts said nickel prices fell due to a weak demand from alloy-makers at domestic spot markets.

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