Tracking a weak trend overseas, nickel prices fell by 0.47 per cent to Rs 575.60 per kg in futures market today as participants cut down their bets.
Furthermore, tepid demand from consuming industries particularly alloy-makers, at the domestic spot markets, weighed on the prices.
At the Multi Commodity Exchange, nickel for delivery in July was down by Rs 2.70 or 0.47 per cent to Rs 575.60 per kg in a business turnover of 4 lots.
In a similar fashion, the metal for delivery in current month eased by Rs 2.20 or 0.38 per cent to Rs 569.50 per kg in 568 lots.
Analysts attributed the fall in nickel futures to a weak trend overseas where base metals retreated in London amid concerns over lackluster manufacturing growth in the world's second-largest economy, China.
