Nickel prices declined 0.47 per cent, to Rs 863.50 per kg in futures trading today as speculators reduced their holdings amid a weak global trend.
At the Multi Commodity Exchange, nickel for delivery in current month, December eased by Rs 4.10, or 0.47 per cent, to Rs 863.50 per kg in business turnover of 231 lots.
On the similar lines, the metal for delivery in January shed Rs 3.50, or 0.40 per cent, to Rs 872.50 per kg in 457 lots.
Market analysts said off-loading of positions by speculators in tune with a weak global trend in base metals and ending monthly settlement, mainly kept pressure on nickel futures.
