Tracking a weak trend in global markets, nickel prices traded lower by Rs 9.60 at Rs 930.80 per kg in futures trade today as speculators offloaded their positions.
At the Multi Commodity Exchange, the April delivery declined by Rs 9.60, or 1.02%, to Rs 930.80 per kg, with a business turnover of 12,231 lots.
The May contract shed Rs 9.50, or 1%, to Rs 941.80 per kg, with an open interest of 1,455 lots.
Market analysts said speculators offloaded their positions on the back of a weak trend in overseas markets, which pulled down nickel prices at futures trade.
Meanwhile, nickel fell 1.5% to $18,134 a tonne on the London Metal Exchange.
