Tracking a weakening global trend and slackened demand from domestic alloy-makers, nickel prices fell by 0.61% to Rs 988.70 per kg in futures trade today.
At the Multi Commodity Exchange, nickel for June delivery fell by Rs 5.70, or 0.61%, to Rs 988.70 per kg, with a business turnover of 2,564 lots.
Nickel for July delivery shed Rs 6, or 0.60%, to Rs 997.60 per kg, with an open interest of 644 lots.
Analysts said besides subdued domestic demand, a weakening trend in the entire base metals at the global markets, on concerns over monetary tightening in China and a firming dollar, weighed on the sentiment.
Meanwhile, nickel slid 0.3% to $22,075 a tonne at the London Metal Exchange.
