Nickel prices moved down by 0.53 per cent to Rs 890.30 per kg in futures market today on profit-booking by speculators driven by a decline in demand in the spot market.
At the Multi Commodity Exchange, nickel for delivery in January moved down by Rs 4.70, or 0.53 per cent, to Rs 890.30 per kg in a business turnover of 1,541 lots.
Similarly, the metal for delivery in February traded lower by Rs 4.20, or 0.47 per cent, to Rs 897 per kg in 104 lots.
Market analysts said besides profit-booking by speculators, fall in demand from alloy-maker in the spot market also put pressure on nickel prices at futures trade.
