Nickel prices fell marginally by 0.26% in futures trade today amid a weak trend in the entire base metals pack overseas on demand concerns.
Sluggish 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 2.30, or 0.26%, to Rs 897 per kg, with a business turnover of 980 lots.
The September contract lost Rs 1.40, or 0.16%, to Rs 888.90 per kg in 3,700 lots.
Market analysts attributed the fall in nickel futures prices to a weakening trend in the entire industrial metals pack on the London Metal Exchange (LME) on concerns that Europe's sovereign debt crisis and the prospects for slower growth in China will hurt demand.
In addition, subdued demand from alloy-makers in the domestic spot market also put pressure on prices of the metal, they said.
Meanwhile, nickel lost 1.5% to USD 18,235 per tonne on the London Metal Exchange today.
