Base Metals: Nickel trades down, copper trades up in

futures trade

Nickel prices on Wednesday declined by Rs 5.30 to Rs 946.80 per kg in futures trade due to reducing of

positions

by speculators amid sluggish demand in spot market.

On the Multi Commodity Exchange, nickel contracts for February delivery fell by Rs 5.30, or 0.56 per cent,

to Rs

946.80 per kg with a business turnover of 5,283 lots.

Similarly, nickel contracts for March delivery dropped by Rs 3.20, or 0.34 per cent, to Rs 949.20 per kg in

88 lots.

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

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