Nickel futures prices fell by 0.30% to Rs 1,070.60 per kg as speculators reduced their positions in view of the approaching monthly expiry amid subdued trend at the London Metal Exchange.
At the Multi Commodity Exchange, nickel for delivery in July traded Rs 3.20, or 0.30%, lower at Rs 1,070.60 per kg, with a business turnover of 1,396 lots.
August nickel shed Rs 3.10, or 0.29%, to Rs 1,075.90 per kg, with a trade volume of 416 lots.
Market analysts said besides weakening trend at the spot markets due to sluggish demand from alloy-makers, weakness in metals at the LME put pressure on the nickel futures prices.
Meanwhile, nickel fell by 0.40% to $24,300 a tonne at the LME in early trade today.
