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Amid a weak trend in the global markets and subdued domestic demand, nickel fell by 0.17% to Rs 845.80 per kg in futures trade today as speculators reduced their positions.
At the Multi Commodity Exchange, nickel for delivery in August fell Rs 1.40, or 0.17%, to Rs 845.80 per kg in a business turnover of 1,253 lots.
The metal for delivery in September also down marginally by 20 paise, or 0.02%, to Rs 854 per kg in a turnover of 90 lots.
Analysts said the fall in nickel prices at futures trade was mostly in tandem with a weakening trend in the base metals at the London Metal Exchange as better-than-expected US trade data fuelled concern the Federal Reserve may reduce its bond purchases this year, reducing stimulus from the economy and weakening demand for base metals.
