Tracking a weak trend at the domestic spot market, nickel prices fell by 1.11 per cent to Rs 397.80 per kg in futures market today as participants cut down bets.
Furthermore, profit-booking by speculators, weighed on the prices.
At the Multi Commodity Exchange, nickel for delivery in February was down by Rs 14.30 or 2.05 per cent, to Rs 682.60 per kg in a business turnover of 4,964 lots.
In a similar fashion, the metal for delivery in March traded Rs 13.90 or 1.98 per cent lower at Rs 688.60 per kg in 104 lots.
Analysts attributed the fall in nickel futures to offloading of positions by participants, tracking a weak trend at the domestic spot markets due to low demand from alloy-makers.
Disclaimer: No Business Standard Journalist was involved in creation of this content
