Nickel prices drifted lower by Rs 13.70 to Rs 1,230.60 per kg in futures trade on Tuesday as speculators trimmed their positions on weak demand.
At the Multi Commodity Exchange, Nickel for delivery in October declined by Rs 13.70, or 1.1 per cent, to Rs 1,230.60 per kg in a business turnover of 13,236 lots.
Similarly, the metal for delivery in November slumped by Rs 15.60, or 1.26 per cent, to Rs 1,223.80 per kg in 766 lots.
Muted demand from alloy makers in spot markets mainly weighed on nickel future prices, analysts said.
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