Nickel prices declined by 0.39 per cent to Rs 683.40 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 September fell by Rs 2.70, or 0.39 per cent, to Rs 683.40 per kg, in a business turnover of 10 lots.
Likewise, the metal for delivery in current month shed Rs 1.60, or 0.23 per cent, to Rs 679.80 per kg in 524 lots.
Analysts said offloading of positions by participants on the back of sluggish demand from alloy-maker in the spot market and profit-booking, mainly influenced nickel prices at futures trade.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)