Tracking a weakening global trend, nickel prices declined by Rs 3.10 to Rs 983.20 per kg in the futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange, April nickel declined by Rs 3.10, or 0.31%, to Rs 983.20 per kg in business turnover of 313 lots.
The March contract shed Rs 2.60, or 0.27%, to Rs 973.40 per kg in business turnover of 4,738 lots.
Market analysts said speculators offloaded their positions on the back of weakening global trend mainly led to fall in nickel prces at futures trade.
Meanwhile, nickel fell 0.2% to 19,435 dollar a metric tonne on the London Metal Exchange.
