Nickel prices traded marginally lower by Rs 1.40, or 0.14 per cent, to Rs 1,019 per kg in futures trade today, on profit booking by speculators amid a weak trend at the London Metal Exchange.
Weak demand for the metal, particularly from alloy makers also put pressure on the nickel futures prices.
At the Multi Commodity Exchange counter, nickel for October month declined by Rs 1.40, or 0.14 per cent, to Rs 1,019 per kg with an open interest of 20 lots.
Similarly, the metal for delivery in August month traded marginally down by Rs 0.30, or 0.03 per cent, to Rs 1,007.20 per kg in 12,081 lots.
Market analysts said beside a weak trend at the London Metal Exchange, profit-taking by speculators led to a fall in nickel prices in the futures trade.
Meanwhile, Nickel lost 0.8 per cent to $21,775 a tonne on the London Metal Exchange.
