Nickel futures fall on muted demand

New Delhi, Jan 21 () Nickel futures on Tuesday declined by Rs 14.40 to Rs 1,020.80 per kg due to reducing of positions by speculators amid sluggish demand at spot market.

On the Multi Commodity Exchange, nickel contracts for January delivery fell by Rs 14.40, or 1.39 per cent, to Rs 1,020.80 per kg with a business turnover of 2,889 lots.

Similarly, nickel contracts for February delivery dropped by Rs 12.90, or 1.26 per cent, to Rs 1,007.60 per kg in 298 lots.

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