Nickel prices fell by Rs 3.10 to Rs 1,178.80 per kg in futures trade on Tuesday 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, the metal for delivery in April 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.