Nickel futures declined by Rs 4.60 at Rs 1,229.70 per kg on Wednesday due to reducing of positions by speculators amid sluggish demand at the spot market.
On the Multi Commodity Exchange, nickel contracts for September delivery fell by Rs 4.60, or 0.37 per cent, to Rs 1,229.70 per kg with a business turnover of 1,954 lots.
Similarly, nickel contracts for October delivery fell by 50 paise, or 0.04 per cent, to Rs 1,224.50 per kg in 3,699 lots.
Analysts said subdued demand at the spot market mainly led to fall in nickel future prices.
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