Nickel prices eased by 0.12 per cent to Rs 994.80 per kg in futures market today as speculators trimmed their positions, driven by easing demand in the spot market.
At the Multi Commodity Exchange, nickel for delivery in May declined by Rs 1.20, or 0.12 per cent, to Rs 994.80 per kg in business turnover of 1,832 lots.
Similarly, the metal for delivery in June contracts was trading lower by Rs 1.10, or 0.11 per cent, to Rs 999.20 per kg in 50 lots.
Analysts said offloading of positions by traders owing to slackened demand from alloy makers in the physical markets, weighed on nickel prices in futures trade.
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