Nickel prices moved down by 0.12% to Rs 936.80 per kg in futures trading today after speculators trimmed their positions largely due to a weakening global trend.
Sluggish demand from alloy-makers in the spot market further fuelled the downtrend in nickel.
At the Multi Commodity Exchange, nickel for delivery in August declined by Rs 1.10, or 0.12%, to Rs 936.80 per kg, with a business turnover of 73 lots.
Similarly, the metal for delivery in July lost Re 1, or 0.11%, to Rs 929.20 per kg, with an open interest of 573 lots.
Market analysts said besides a weakening global trend, fall in demand from alloy-makers in the spot market mainly led to a decline in nickel prices at futures market.
Meanwhile, nickel traded a shade lower at $16,690 a tonne on the London Metal Exchange.
