Nickel prices fell by 0.74% to Rs 992.30 per kg in futures trade today as speculators offloaded their positions amid a weak trend overseas.
Subdued demand from alloy-makers in the spot market also put pressure on nickel futures prices.
At the Multi Commodity Exchange, October nickel fell by Rs 7.40, or 0.74%, to Rs 992.30 per kg, with a business turnover of 93 lots.
The September contract lost Rs 7, or 0.70%, to Rs 986 per kg in 960 lots.
Market analysts attributed the fall in nickel futures prices to a weakening trend overseas on demand concerns after a US unemployment report showed that no jobs were added in the world's largest economy last month, fuelling fears of a slowdown.
In addition, weak demand from alloy-makers in the domestic spot market also weighed on nickel futures prices, they said.
