Nickel futures decline on soft demand

New Delhi, Feb 6 () Nickel futures on Thursday declined by Rs 2.10 to Rs 962.4 per kg due to reducing of positions by speculators amid sluggish demand at spot market.

On the Multi Commodity Exchange, nickel contracts for February delivery fell by Rs 2.10, or 0.22 per cent, to Rs 962.40 per kg with a business turnover of 4,068 lots.

Similarly, nickel contracts for March delivery dropped by Rs 3.20, or 0.33 per cent, to Rs 960 per kg in 55 lots.

Analysts said subdued demand in spot market mainly led to fall in nickel future prices here. VHP SHWSHW