In range-bound trading, nickel futures moved down by Rs 0.60 or 0.06 per cent to Rs 1,000.20 per kg in futures trade today as speculators off-loaded their positions due to the fall in spot market demand.
Weakness in base metals in global markets was an additional factor behind fall in nickel futures here.
At the Multi Commodity Exchange nickel futures for delivery in September month traded lower by Rs 0.60 or 0.06 per cent to Rs 1,000.20 per kg, with an open interest of 2,536 lots.
Similarly, the metal for delivery in current-month August weakened by Rs 0.30, or 0.03 per cent to Rs 991.80 per kg in 13,677 lots.
Analysts said slackness in demand from alloy-makers at spot markets pulled down nickel prices in futures trade.
