Nickel futures dip on tepid demand

New Delhi, Feb 18 () Nickel prices on Tuesday fell by Rs 6.20 to Rs 948.70 per kg in futures trade 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 6.20, or 0.65 per cent, to Rs 948.70 per kg with a business turnover of 4,434 lots.

Similarly, nickel contracts for March delivery dropped by Rs 5, or 0.52 per cent, to Rs 950.50 per kg in 112 lots.

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