Nickel down 0.21% on weak demand

Nickel futures for February declined by Rs 2, or 0.21% to Rs 961.90 per kg in 490 lots.

At the Multi Commodity Exchange, the January contract shed Rs 1.90, or 0.20% to Rs 956 per kg in 4,331 lots.

Speculators reducing their positions, weak spot market trend amid sluggish demand from alloy-makers affected the nickel futures.

Weakness at the London Metal Exchange also put pressure on the nickel trade globally.