Nickel futures on Monday declined by Rs 3.50 to Rs 1,050.90 per kg due to reducing of positions by speculators amid sluggish demand in spot market.
On the Multi Commodity Exchange, nickel contracts for December delivery fell by Rs 3.50, or 0.33 per cent, to Rs 1,050.90 per kg with a business turnover of 3,352 lots.
Similarly, nickel contracts for January delivery dropped by 60 paise, or 0.06 per cent, to Rs 1,052.80 per kg in 467 lots.
Analysts said subdued demand in spot market mainly led to fall in nickel futures prices here.
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