Tracking a weakening trend at the global markets and profit taking by speculators, nickel prices drifted by 6.60, or 0.64 per cent at Rs 1,021.20 per kg in futures trade today.
At the Multi Commodity Exchange counter, nickel for delivery in June contract traded Rs 6.60, or 0.64 per cent lower at Rs 1,021.20 per kg, with a business volume of 125 lots.
The metal for delivery in May went down by Rs 6.10, or 0.60 per cent, to Rs 1,019.50 per kg, with a business volume of 1,589 lots. At the London Metal Exchange, nickel fell $280, or 1.23 per cent to $22,570 per tonne.
Market analysts said, a weak trend in entire base metals pack, at the London Metal Exchange on investor's concerns about the economic health of the euro zone and profit-booking by speculators mainly weighed on futures prices.
