Nickel prices softened by 0.55 per cent to Rs 870.50 per kg in futures trade today as speculators cut positions, taking weak cues from the spot market on tepid demand from alloy-makers.
At the Multi Commodity Exchange, nickel for delivery in February declined by Rs 4.80, or 0.55 per cent, to Rs 870.50 per kg in a business turnover of 3,330 lots.
Similarly, the metal for delivery in March contracts shed Rs 4.50, or 0.51 per cent, to Rs 874.50 per kg in 211 lots.
Market analysts said the fall in nickel prices was on offloading of positions by traders owing to slackened demand from alloy-makers in the physical market.
Disclaimer: No Business Standard Journalist was involved in creation of this content
