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Nickel futures edge lower on sluggish demand

Nickel futures edged lower on MCX as speculators trimmed their positions, tracking sluggish demand from alloy- makers and other consuming industries in the spot market. Though, a firming trend in select base metals overseas, capped some losses in nickel futures.

The contract for July delivery was trading at Rs 616.80, down by 0.21% or Rs 1.30 from its previous closing of Rs 618.10. The open interest of the contract stood at 25747 lots.

The contract for August delivery was trading at Rs 621.30, down by 0.24% or Rs 1.50 from its previous closing of Rs 622.80. The open interest of the contract stood at 3174 lots on MCX.

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