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Nickel prices declined 0.47%, to Rs 863.50 per kg in futures trading today as speculators reduced their holdings amid a weak global trend.
At the Multi Commodity Exchange, nickel for delivery in current month, December eased by Rs 4.10, or 0.47%, to Rs 863.50 per kg in business turnover of 231 lots.
On the similar lines, the metal for delivery in January shed Rs 3.50, or 0.40%, to Rs 872.50 per kg in 457 lots.
Market analysts said off-loading of positions by speculators in tune with a weak global trend in base metals and ending monthly settlement, mainly kept pressure on nickel futures.
