Nickel futures drifted 50 paise lower to Rs 1,171 per kg in futures trade on Monday as speculators trimmed their positions, owing to weak demand at the spot market.
At the Multi Commodity Exchange, nickel for October delivery declined by 50 paise, or 0.04 per cent, to Rs 1,171 per kg in a business turnover of 4,695 lots.
Similarly, the metal for November delivery fell by Rs 3.70, or 0.32 per cent, to Rs 1,162.80 per kg in 379 lots.
Muted demand from alloy makers mainly weighed on nickel future prices here, analysts said.
Trading on the MCX was closed till 1700 hrs on Monday on account of Maharashtra Assembly elections.
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