Amid a weakening global trend and sluggish demand from alloy makers, nickel prices fell by Rs 8 to Rs 978.40 per kg in futures trade on Monday.
At the Multi Commodity Exchange, nickel for delivery in July fell by Rs 8, or 0.81 per cent, to Rs 978.40 per kg, with a business turnover of 666 lots.
Similarly, the metal for delivery in June lost Rs 7. 80, or 0.80 per cent, to Rs 968.60 per kg, with a trade volume of 6,443 lots.
Traders said apart from sluggish demand from alloy makers, a weakening trend in overseas market further pulled down nickel futures prices.
Meanwhile, nickel fell by 0.6 per cent to USD 21,500 a tonne on the London Metal Exchange.