Nickel prices declined by 0.30 per cent to Rs 661.40 per kg in futures trading today as traders cut down their bets, driven by easing demand from consuming industries in the spot markets.
At the Multi Commodity Exchange, nickel for delivery in September moved down by Rs 2, or 0.30 per cent to Rs 661.40 per kg in business turnover of 139 lots.
Likewise, the metal for delivery in August contracts shed Rs 1.80, or 0.27 per cent to Rs 657.10 per kg in 6,286 lots.
Analysts said the fall in nickel prices in futures trade was mostly attributed to trimming of positions by participants due to low demand from alloy-makers at the domestic spot market.
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