Nickel prices drifted down by 2.66 per cent to Rs 805.80 per kg in futures market today as speculators trimmed their positions owing to slackened demand in the spot markets.
At the Multi Commodity Exchange, nickel for delivery in December fell by Rs 22, or 2.66 per cent to Rs 805.80 per kg in business turnover of 563 lots.
Likewise, the metal for delivery in November traded lower by Rs 21.70, or 2.64 per cent to Rs 800.60 per kg in 14,404 lots.
Analysts said offloading of positions by traders due to easing demand from consuming industries in the physical market mainly led to decline in nickel prices at futures trade.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)