Base Metals: Nickel, copper futures slip on muted demand

New Delhi: Nickel prices on Thursday fell 0.66 per cent to Rs 855 per kg in futures trade after participants offloaded their positions amid weak demand at spot market.

On the Multi Commodity Exchange, nickel contracts for March delivery traded down by Rs 5.70, or 0.66 per cent, to Rs 855 per kg with a business turnover of 5 lots.

Similarly, nickel contracts for April delivery eased by Rs 15.20, or 1.75 per cent, to Rs 855.20 per kg in 1,560 lots.

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

Copper

Copper futures on Thursday fell 1.43 per cent to Rs 365.70 per kg as speculators reduced their exposure due to weak spot demand.

On the Multi Commodity Exchange, copper contracts for the March month delivery traded lower by Rs 5.30, or 1.43 per cent, to Rs 365.70 per kg in a business turnover of 55 lots.