Nickel futures dip on sluggish demand

New Delhi, Jan 27 () Nickel futures on Monday declined by Rs 33.70 to Rs 942.50 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 33.70, or 3.45 per cent, to Rs 942.50 per kg with a business turnover of 813 lots.

Similarly, nickel contracts for February delivery dropped by Rs 21.90, or 2.27 per cent, to Rs 942 per kg in 5,310 lots.

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