Nickel futures slump on tepid demand

Nickel prices on Tuesday declined by 0.6 per cent to Rs 2,501 per kg in futures trade after participants offloaded their positions amid a weak demand in spot market.

On the Multi Commodity Exchange, nickel contracts for April delivery traded lower by Rs 15 or 0.6 per cent to Rs 2,501 per kg with a business turnover of 155 lots.

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