Nickel prices traded lower by Rs 1.80 to Rs 1,071.40 per kg in futures trade today as speculators reduced their positions on the back of a weakening global trend.
At the Multi Commodity Exchange, nickel for July delivery declined by Rs 1.80, or 0.17%, to Rs 1,071.40 per kg, with a business turnover of 3,259 lots.
Similarly,the metal for August delivery shed Rs 1.50, or 0.14%, to Rs 1,079.90 per kg, with an open interest of 251 lots.
Market analysts said besides a weakening global trend, subdued demand from alloy-makers mainly led to the fall in nickel futures prices.
Meanwhile, nickel lost 0.5% to $24,100 a tonne on the London Metal Exchange.
