Nickel futures on Monday declined by Rs 4.80 at Rs 1,000.70 per kg due to reducing of positions by speculators amid sluggish demand at the spot market.
On the Multi Commodity Exchange, nickel contracts for December delivery fell by Rs 4.80, or 0.48 per cent, at Rs 1,000.70 per kg with a business turnover of 2,650 lots.
Similarly, nickel contracts for January delivery fell by Rs 6.40, or 0.64 per cent, to Rs 996.20 per kg in 11 lots.
Analysts said subdued demand at the spot market mainly led to fall in nickel prices here.
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