Nickel futures prices declined by over 1% to Rs 1,063.10 per kg today, amid weak trend in base metals at the London Metal Exchange.
At the Multi Commodity Exchange, nickel for delivery in July declined by Rs 11.30, or 1.05%, to Rs 1,063.10 per kg, with a business turnover of 341 lots.
Likewise, the metal for delivery in June lost Rs 6.90, or 1.02% to Rs 1,053.60 per kg, with a trade volume of 6,184 lots.
Analysts said besides a weakening trend in copper and other base metals at the London Metal Exchange (LME), subdued demand at domestic spot markets also weighed down on nickel futures prices.
Meanwhile, nickel lost one% cent to $23,350 a tonne at the LME.