Nickel futures slide on tepid demand

Nickel prices on Wednesday declined by 0.19 per cent to Rs 2,851 per kilogram in futures trade after participants offloaded their positions amid weak demand in spot market.

On the Multi Commodity Exchange, nickel contracts for March delivery traded lower by Rs 5.40 or 0.19 per cent at Rs 2,851 per kg with a business turnover of 269 lots.

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