Nickel prices moved down by 0.26 per cent, to Rs 910 per kg in futures market today as speculators reduced their positions, taking weak cues from the spot markets on subdued demand.
At the Multi Commodity Exchange, nickel for delivery in October declined by Rs 2.40, or 0.26 per cent, to Rs 910 per kg, with a business turnover of 4,285 lots.
Likewise, the metal for delivery in November lost Rs 1.70, or 0.18 per cent, to Rs 918 per kg, with a business turnover of 390 lots.
Marketmen said weak demand from alloy-makers in the spot markets mainly led to the fall in nickel prices at futures trade but gains in base metals at the London Metal Exchange on the back of a better-than-expected ratail sales reported by
the US, capped the losses.