Nickel prices declined by 0.57 per cent to Rs 761.10 per kg in futures trade today as speculators cut down their bets, driven by easing demand in the spot market.
At the Multi Commodity Exchange, nickel for delivery in current month was trading lower by Rs 4.40, or 0.57 per cent, to Rs 761.10 per kg, in a business turnover of 1,316 lots.
Likewise, the metal for delivery in November shed Rs 4.10, or 0.53 per cent, to Rs 766.80 per kg in 1,176 lots.
Analysts said offloading of positions by participants on the back of sluggish demand from alloy-makers in the domestic spot market, mainly weighed on nickel prices at futures trade.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)