Tracking a weak global trend and sluggish demand in the spot market, nickel futures prices fell by Rs 3.10 to Rs 1,055.20 per kg today as speculators reduced their positions.
At the Multi Commodity Exchange, August contract for nickel fell by Rs 3.10, or 0.29%, to Rs 1,055.20 per kg, with a business turnover of 279 lots.
Likewise, July contract for the metal moved down by Rs 2.70, or 0.26%, to Rs 1,046.70 per kg, with a trade volume of 4,089 lots.
Market analysts attributed to the fall in nickel futures prices to weakening global trend amid sluggish demand from alloy makers in the spot market.
Meanwhile, nickel slid 1% to $23,200 a tonne on the London Metal Exchange.
