Nickel futures on Wednesday declined by Rs 7.30 to Rs 1,082 per kg due to reducing of positions by speculators amid sluggish demand at spot market.
On the Multi Commodity Exchange, nickel contracts for November delivery fell by Rs 7.30, or 0.67 per cent, to Rs 1,082 per kg with a business turnover of 6,725 lots.
Similarly, nickel contracts for December delivery fell Rs 10.40, or 0.96 per cent, to Rs 1,072.10 per kg in 205 lots.
Analysts said subdued demand at spot market mainly led to fall in nickel futures prices here.