Nickel prices fell by 0.87% in futures trade today after speculators reduced their positions, driven by weak trend in the base metals overseas on demand concerns and strengthening dollar.
Weak trend at the spot markets due to sluggish demand from alloy-makers too put pressure on the nickel futures here.
At the Multi Commodity Exchange, copper for delivery in May fell by Rs 9.70, or 0.87% to Rs 1,103.80 per kg, with a business turnover of 2,427 lots.
Likewise, the metal for delivery in June lost Rs 9.60, or 0.85% to Rs 1,115 per kg, with a business volume of 214 lots.
Analysts said besides weakening trend in base metals in the global markets, sluggish demand from alloy-makers also led to fall in nickel futures prices.
