Nickel futures down in thin trade

Written by Agencies | New Delhi | Updated: Mar 31 2011, 20:04pm hrs
Nickel prices fell marginally by 0.07 per cent to Rs 1,175.10 per kg in futures trade on Thursday as speculators indulged in squaring-up of positions in view of monthly expiry.

Sluggish demand from alloy makers in the domestic markets also kept some pressure on the nickel futures prices.

At the Multi Commodity Exchange, nickel for delivery in April fell by 80 paise, or 0.07 per cent, to Rs 1,175.10 per kg, with a business turnover of 713 lots.

Likewise, the metal for delivery in March lost 30 paise, or 0.03 per cent, to Rs 1,165.90 per kg, with an open interest of 949 lots.

Analysts said apart from subdued spot demand, squaring-up of positions by speculators in view of monthly expiry mainly led to a fall in nickel futures prices.