Nickel futures traded marginally lower by 0.69% as speculators engaged in reducing their positions, driven by a weak trend in copper and other base metals overseas.
At the Multi Commodity Exchange, nickel for delivery in April traded Rs 8.30, or 0.69% lower at Rs 1,197.60 per kg, with a business turnover of 1,730 lots.
The metal for delivery in May fell by Rs 7.40, or 0.67% to Rs 1,209.30 per kg, with a business volume of 551 lots.
Market analysts said a weak trend in copper and other base metals overseas in tandem with subdued trend at the domestic markets on sluggish demand, led to the decline in nickel futures prices.
