Nickel prices declined by 0.52 per cent to Rs 878.10 per kg in futures trade today as speculators cut positions, driven by easing demand in the spot market along with a weak trend overseas.
At the Multi Commodity Exchange, nickel for delivery in far-month April fell by Rs 4.60, or 0.52 per cent, to Rs 878.10 per kg in business turnover of 82 lots.
Similarly, the metal for delivery in March contracts weakened by Rs 4.30, or 0.49 per cent, to Rs 874.20 per kg in 1883 lots.
Market analysts said cutting down of positions by participants following subdued demand from alloy-makers in the physical market and weak global cues influenced nickel futures.
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