Nickel futures prices declined by Rs 2.40 to Rs 967.50 per kg today as speculators reduced their positions driven by a subdued demand at the domestic spot markets even as the metal strengthened at the London Metal Exchange (LME).
At the Multi Commodity Exchange, April nickel dropped by Rs 2.40, or 0.25%, to Rs 967.50 per kg, with a trading volume of 230 lots.
The March delivery also fell by Rs 2, or 0.20%, to Rs 954 per kg, in a turnover of 1,953 lots.
At the London Metal Exchange, nickel gained 0.5% to $19,000 per tonne in early trade today.
Analysts said subdued domestic demand from alloy-makers mainly put pressure on nickel prices at futures trade here but gains in metal prices at the LME capped the losses.
