Amid sluggish spot demand and absence of cues from overseas markets, nickel futures prices fell by 0.14% today as speculators reduced their positions.
At the Multi Commodity Exchange, nickel for July delivery fell by Rs 1.50, or 0.14%, to Rs 1,037.70 per kg, with a business turnover of 1,365 lots.
Likewise, the metal for August delivery moved down by Rs 1.30, or 0.12%, to Rs 1,046.90 per kg, with a trade volume of 88 lots.
Market analysts said subdued demand from alloy makers at domestic spot markets and absence of positive cues from global markets led to the decline in nickel futures market.
Meanwhile, nickel traded almost flat at $23,249 a tonne on the London Metal Exchange.
