Tracking a weak trend overseas, nickel prices fell marginally by 0.24 per cent to Rs 578.60 per kg in futures market today as participants reduced their exposure.
Moreover, muted demand from consuming industries at the domestic spot markets, weighed on the prices.
At the Multi Commodity Exchange, nickel for delivery in February fell by Rs 1.40 or 0.24 per cent to Rs 578.60 per kg in a business turnover of 350 lots.
On similar lines, the metal for delivery in March contracts declined by Rs 1.30 or 0.22 per cent to Rs 584.40 per kg in two lots.
Analysts said besides a weak trend in base metals in global markets after copper and other base metals retreated amid anxiety over the health of the global economy, mainly pulled down nickel prices at futures trade.
