Amid a weak trend in the global markets and subdued domestic demand, nickel traded 0.40 per cent lower at Rs 645.50 per kg in futures trade today as speculators reduced their bets.
At Multi Commodity Exchange, nickel for delivery in current month was trading down by Rs 2.60, or 0.40 per cent, at Rs 645.50 per kg in a business turnover of 423 lots.
The metal for delivery in October was also down by a similar margin to trade at Rs 652.60 per kg in a turnover of 131 lots.
Analysts said the fall in nickel prices was mostly in line with a weakening trend in metal overseas after Asia's biggest commodities companies tumbled as the collapse in Glencore Plc's stock highlighted the threat of sliding raw materials prices amid China's economic slowdown.
Meanwhile, nickel for delivery in three months at LME fell 1 per cent.
