Nickel prices moved down by 0.36 per cent to Rs 727.50 per kg in futures trading today as speculators cut down their bets amid fall in demand in the spot market.
At the Multi Commodity Exchange, nickel for delivery in September fell by Rs 2.60, or 0.36 per cent to Rs 727.50 per kg in business turnover of 183 lots.
Likewise, the metal for delivery in August contracts weakened by Rs 1.60, or 0.22 per cent to Rs 723.30 per kg in 4,150 lots.
Analysts said offloading of positions by participants, triggered by muted demand from alloy-maker in the spot market, mainly weighed on nickel prices at futures trade.
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