Nickel futures traded 0.48% lower today after speculators reduced their positions, as the metal weakened at the London Metal Exchange (LME).
At the Multi Commodity Exchange, nickel for delivery in March traded Rs 6.80, or 0.48%, lower at Rs 1,199.90 per kg, with a business turnover of one lot.
The metal for delivery in April contract fell by Rs 5.80, or 0.48%, to Rs 1,208.10 per kg, with a business turnover of a single lot.
Market analysts said weak trend in nickel prices at the LME mainly put pressure on the metal prices in futures trade here.
Subdued demand at the domestic spot markets from alloy makers also kept pressure on the nickel futures prices, they added.
At the LME, nickel dropped 0.6% to $26,598 per tonne.
