The nickel futures for January traded Rs 1.50, or 0.16% lower at Rs 953.90 per kg, in 5,912 lots at the Multi Commodity Exchange today.
The February contract declined by Rs 1.40, or 0.15%, to Rs 960.70 per kg, in 521 lots.
Participants said sluggish demand from alloy makers, weakness in base metals at the London Metal Exchange triggered the downtred.