Nickel prices fell by Rs 3.10 to Rs 1,178.80 per kg at the futures trade today on the back of a weak trend at the London Metal Exchange.
At the Multi Commodity Exchange, nickel for delivery in May fell by Rs 3.10 or 0.26 per cent to Rs 1,178.80 per kg with a business turnover of 1,318 lots. Similarly, April contract declined by Rs 1.60 or 0.14 per cent to Rs 1,166.40 per kg with a business volume of 5,731 lots.
Market analysts said apart from a weakening trend at the London Metal Exchange, sluggish demand from domestic alloy makers also led to the decline in nickel futures prices.