Nickel futures prices declined by Rs 7 to Rs 1,070 per kg today on profit-booking by speculators even as the metal gained in global markets.
At the Multi Commodity Exchange, nickel for delivery in June declined by Rs 7, or 0.65%, to Rs 1,070 per kg, with a business turnover of 1,145 lots.
Likewise, the metal for delivery in May lost Rs 6.90, or 0.65%, to Rs 1,061 per kg, with a trade volume of 12,779 lots.
Analysts said profit-booking by speculators on subdued demand from alloy makers mainly led to decline in nickel futures prices.
They said selling remained higher even as the firming global trend, which sets prices in domestic and futures markets here, failed to check the fall. Meanwhile, nickel climbed by a per cent to $23,800 a tonne on the London Metal Exchange.