Amid profit taking at prevailing levels by speculators and less demand by traders,drifted the nickel prices by Rs 6.60 or 0.57 per cent at Rs 1,148.10 per kg in futures trade today. At the Multi Commodity Exchange counter,nickel for delivery in April contract fell Rs 6.60,or 0.57 per cent at Rs 1,148.10 per kg,in an open interest of 2,951 lots. The metal for delivery in May edged lower by Rs 5.70,or 0.52 per cent,to Rs 1,148 per kg,in an open interest of 1,172 lots. The fall in nickel prices at futures market was mostly due to profit-booking by speculators and subdued demand for the metal at spot markets,analysts said.
