Nickel prices eased by 0.81 per cent to Rs 652 per kg in futures market today as traders cut down their bets, driven by subdued demand from consuming industries in the spot market.
At the Multi Commodity Exchange, nickel for delivery in August drifted lower by Rs 5.30 or 0.81 per cent to Rs 652 per kg in business turnover of 1,533 lots.
On similar lines, the metal for delivery in September contracts shed Rs 4.90 or 0.74 per cent to Rs 657.30 per kg in 537 lots.
Analysts said the fall in nickel prices in futures trade is mostly attributed to trimming of positions by participants due to tepid demand from alloy-makers at the domestic spot market.
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