Nickel futures on Wednesday declined by Rs 9.80 to Rs 1,139.10 per kg due to reducing of positions by speculators amid sluggish demand in spot market.
On the Multi Commodity Exchange, nickel contracts for November delivery fell by Rs 9.80, or 0.85 per cent, to Rs 1,139.10 per kg with a business turnover of 8,369 lots.
Similarly, nickel contracts for December delivery fell by Rs 9.90, or 0.87 per cent, to Rs 1,131 per kg in 77 lots.
Analysts said subdued demand in spot market mainly led to the fall in nickel prices here.
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