Nickel prices eased by 0.39 per cent to Rs 924 per kg in futures market today as traders cut down their bets, driven by subdued demand from consuming industries in the spot market.
Nickel for delivery in August drifted lower by Rs 3.60, or 0.39 per cent, to Rs 924 per kg in a business turnover of 23 lots at the Multi Commodity Exchange (MCX).
On similar lines, the metal for delivery in July contracts shed Rs 3.50, or 0.38 per cent, to Rs 919.80 per kg in 1,125 lots.
Analysts said the fall in nickel prices in futures trade was mostly attributed to trimming of positions by participants due to tepid demand from alloy-makers at the domestic spot market amid weakness in select base metals overseas.
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