Nickel prices declined by 0.29 per cent to Rs 744 per kg in futures trade today as speculators cut down their bets, driven by easing demand in the spot market.
At the Multi Commodity Exchange, nickel for delivery in November fell by Rs 2.20, or 0.29 per cent, to Rs 744 per kg, in a business turnover of 28 lots.
Likewise, the metal for delivery in current month shed Rs 2.10, or 0.28 per cent, to Rs 738.20 per kg in 1,148 lots.
Analysts said offloading of positions by participants on the back of sluggish demand from alloy-maker in the spot market mainly weighed on nickel prices at futures trade.
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