Amid a weakening trend at the London Metal Exchange and sluggish domestic demand, nickel futures shed 0.48% to Rs 888 per kg today.
At the Multi Commodity Exchange, nickel for delivery in July traded at Rs 4.30, or 0.48% lower, at Rs 888 per kg, with a business turnover of 2,555 lots.
August nickel declined by Rs 3.90, or 0.43%, to Rs 899.20 per kg, with a business turnover of 731 lots.
Marketmen said weakness in copper and other base metals at the London Metal Exchange (LME) over concerns that Europe's debt crisis may worsen and slow growth in China put pressure on nickel futures prices.
Slackened demand at domestic spot markets from alloy-makers also weighed on the metal, they said.
Nickel fell 0.38% to $15,840 per tonne at the LME.
