NEW DELHI: Nickel prices declined by Rs 2.40 to Rs 949.40 per kg in futures trading on Monday as speculators reduced their holdings amid a weak global trend.
At the Multi Commodity Exchange, nickel for delivery in February declined by Rs 2.40, or 0.25 per cent, to Rs 949.40 per kg in business turnover of 690 lots.
Similarly, the metal for delivery in January shed Rs 2.10, or 0.22 per cent, to Rs 942.60 per kg in 6,723 lots.
Market analysts said off-loading of positions by speculators in tune with a weak global trend, mainly kept pressure on nickel futures.
Meanwhile, nickel fell 0.3 per cent to USD 17,507 a tonne on the London Metal Exchange.
