Nickel prices softened 1.15 per cent to Rs 585.70 per kg in futures market today as speculators trimmed positions amid a weak trend overseas and muted demand from alloy makers at the spot market.
At the Multi Commodity Exchange, nickel for delivery in December traded lower by Rs 7, or 1.15 per cent, to Rs 585 per kg in a turnover of 3,753 lots.
The metal for delivery in January 2016 weakened by Rs 7.50, or 1.09 per cent, to Rs 591.50 per kg in six lots.
Analysts said apart from subdued demand from alloy makers in the domestic spot market, weakness in select base metals in global market mainly weighed on nickel futures here.
