Nickel prices declined by 0.46 per cent to Rs 699.60 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 December fell by Rs 3.20, or 0.46 per cent, to Rs 699.60 per kg, in a business turnover of 19 lots.
Likewise, the metal for delivery in November shed Rs 2.80, or 0.40 per cent, to Rs 694.40 per kg in 364 lots.
Analysts said offloading of positions by participants on the back of sluggish demand from alloy-maker in the spot market and metal's weakness at the London Metal Exchange, mainly weighed on nickel prices at futures trade.
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