Nickel prices moved down by 0.75 per cent to Rs 931.10 per kg in futures trade today as speculators offloaded positions amid subdued demand in spot market.
Further, weak trend in base metals in global markets influenced nickel prices.
At the Multi Commodity Exchange, nickel for delivery in March declined by Rs 7, or 0.75 per cent, to Rs 931.10 per kg in a business turnover of 34 lots.
Similarly, the metal for delivery in February traded lower by Rs 6.80, or 0.73 per cent, to Rs 924.50 per kg in 1,085 lots.
Analysts said offloading of positions by speculators, driven by a weak trend in base metals in global markets as the dollar's rise against the euro, pulled down nickel prices at futures trade.
