Tracking a weakening global trend and fall in demand from domestic alloy-makers, nickel prices fell by Rs 3.70 to Rs 1,020.60 per kg in futures trade today.
At the Multi Commodity Exchange, nickel for delivery in June fell by Rs 3.70, or 0.36%, to Rs 1,020.60 per kg, with a business turnover of 6,969 lots.
July nickel shed Rs 3.50, or 0.34%, to Rs 1,029.60 per kg in 618 lots.
Analysts said a weakening trend in the entire base metals pack at the London Metal Exchange (LME) on demand concerns and reduced offtake by alloy-makers mainly kept pressure on the nickel prices at futures trade today.
Meanwhile, nickel shed 1.3% to $22,550 a tonne on the LME.
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