Nickel prices fell by 0.51% to Rs 1,017 per kg in futures trade today as speculators reduced their positions in tandem with a weak trend at the domestic spot markets.
At the Multi Commodity Exchange, nickel for delivery in June fell by Rs 6.70, or 0.51% to Rs 1,017 per kg, with a business turnover of 6,323 lots.
The July contract lost Rs 5.50, or 0.49% to Rs 1,027.50 per kg, with a business volume of 405 lots.
Analysts said a weakening trend at the spot markets owing to slackened demand from alloy markets mainly led to the decline in nickel futures prices here.