NEW DELHI: Nickel prices moved down by Rs 2, or 0.21 per cent to Rs 961.90 per kg in futures market today as speculators reduced their positions, tracking a weak trend in spot market on sluggish demand from alloy-makers.
At the Multi Commodity Exchange, nickel for delivery in February declined by Rs 2, or 0.21 per cent to Rs 961.90 per kg in business turnover of 490 lots.
In a similar fashion, the metal for delivery in January contract shed Rs 1.90, or 0.20 per cent to Rs 956 per kg in 4,331 lots.
Market analaysts said apart from subdued domestic demand from alloy-makers, weakness in metal at the London Metal Exchange also put pressure on the nickel futures here.
