Nickel prices fell by Rs 3.10 to Rs 1,178.80 per kg in futures trade today on the back of a weak trend at the London Metal Exchange.
At the Multi Commodity Exchange, nickel for delivery in May fell by Rs 3.10, or 0.26% to Rs 1,178.80 per kg, with a business turnover of 1,318 lots.
Similarly, the metal for delivery in April declined by Rs 1.60, or 0.14% to Rs 1,166.40 per kg, with a business volume of 5,731 lots.
Market analysts said apart from a weakening trend at the London Metal Exchange, sluggish demand from domestic alloy-makers also led to the decline in nickel futures prices.
