Nickel prices fell by Rs 9.30 to Rs 955 per kg in futures trading today as speculators reduced positions, taking weak cues from the global markets amid subdued domestic demand.
At the Multi Commodity Exchange, nickel for delivery in September fell by Rs 9.30, or 0.96%, to Rs 955 per kg, with a business turnover of 4,612 lots.
October nickel traded lower by Rs 8.80, or 0.91%, to Rs 963 per kg in 613 lots.
Marketmen said offloading of positions by speculators led to the fall in nickel futures prices here.
A weak trend in base metals in the overseas markets after data from top consumer China showed manufacturing activity steadying, but not improving, influenced the sentiment.
Meanwhile, nickel declined by $55, or 0.31% to $17,700 a tonne on the London Metal Exchange.
