Amid a weak trend at the domestic spot markets on subdued demand, nickel fell by 0.66 per cent to Rs 589.70 per kg in futures trade today as speculators cut down their bets.
At the Multi Commodity Exchange, nickel for delivery in June was trading down by Rs 3.90, or 0.66 per cent, at Rs 589.70 per kg, in a business turnover of 76 lots.
The metal for delivery in May was also down by Rs 3.70, or 0.63 per cent, at Rs 583.70 per kg, in a turnover of 1,327 lots.
Analysts said the fall in nickel prices was mostly in line with a weakening trend at the domestic spot markets owing to muted demand from alloy-makers, even as metal showed strength at the London Metal Exchange (LME).
