Nickel prices moved down by 0.12 per cent to Rs 1,122.40 per kg in futures trade today as speculators reduced positions amid weak demand from alloy-makers in the spot market.
Besides, a lower global trend dampened the sentiment.
At the Multi Commodity Exchange, nickel for delivery in September declined by Rs 1.30, or 0.12 per cent, to Rs 1,122.40 per kg in a business turnover of 210 lots.
The metal for delivery in October shed Rs 1.20, or 0.11 per cent, to Rs 1,129.20 per kg in nine lots.
Market analysts said speculators reduced positions on weak demand from alloy-makers in the domestic spot market and a subdued trend in base metals overseas after factory and retail-sales data signalled further slowing in China, the world's biggest user, led to fall in nickel futures here.
