Nickel futures edged lower on MCX as speculators offloaded their holdings, tracking weak demand from alloy-makers and other consuming industries in the domestic spot market.
The contract for August delivery was trading at Rs 649.00, down by 1.26% or Rs 8.30 from its previous closing of Rs 657.30. The open interest of the contract stood at 17765 lots.
The contract for September delivery was trading at Rs 652.50, down by 1.46% or Rs 9.70 from its previous closing of Rs 662.20. The open interest of the contract stood at 1706 lots on MCX.