Nickel futures on Friday declined by Rs 5.30 to Rs 1,077.20 per kg due to reducing of positions by investors amid sluggish demand in spot market.
On the Multi Commodity Exchange, nickel contracts for November delivery fell by Rs 5.30, or 0.49 per cent, to Rs 1,077.20 per kg with a business turnover of 4,880 lots.
Nickel contracts for December delivery traded lower by Rs 9.20, or 0.86 per cent, at Rs 1,060.30 per kg in 295 lots.
Analysts said subdued demand in spot market mainly led to the fall in nickel prices.
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