Nickel futures slide on tepid demand

Nickel prices on Wednesday declined 0.04 per cent to Rs 1,425.30 per kg in the futures trade, after participants offloaded their positions amid weak demand in the spot market.

On the Multi Commodity Exchange, nickel contracts for the October delivery traded lower by 60 paise, or 0.04 per cent, to Rs 1,425.30 per kg with a business turnover of 1,327 lots.

Analysts said subdued demand in the spot market mainly led to the fall in nickel futures prices.