Nickel futures traded lower on MCX on the back of signs of sufficient supply and sluggish demand from alloy making industries. Further, weakening trend in copper and other base metals in global market also dampened the sentiments.
The contract for May delivery was trading at Rs 1107.00, down by 0.08% or Rs 0.90 from its previous closing of Rs 1107.90. The open interest of the contract stood at 9045.00 lots.
The contract for June delivery was trading at Rs 1112.20, down by 0.12% or Rs 1.30 from its previous closing of Rs 1113.50. The open interest of the contract stood at 1323.00 lots on MCX.
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