Nickel prices fell by Rs 2.70 to Rs 693.70 per kg in futures trade today as speculators offloaded positions amid a weak trend in global markets.
Further, subdued demand from alloy-makers at spot markets weighed on nickel futures.
At the Multi Commodity Exchange, nickel for delivery this month declined by Rs 2.70 to Rs 693.70 per kg in a business turnover of 690 lots.
Similarly, the metal for delivery in September traded lower by Rs 2.40 to Rs 700.50 per kg in 15 lots.
Analysts said offloading of positions by speculators, triggered by a weak trend in global markets amid concern a slowing economy in China will hurt demand in the world's biggest consumer and as a strong dollar made metals less attractive as an asset, pulled down nickel prices at futures trade.
