Nickel futures were trading lower by nearly 0.83 per cent during the afternoon trade in the domestic market on Wednesday as speculators reduced their exposure, tracking a weak trend at the domestic spot markets on low demand.
The fall in nickel prices was mostly in tune with a weak trend at the domestic spot markets due to muted demand from alloy-makers, but a firm trend in base metals at the LME, restricted losses.
However, firmness in base metals at the London Metal Exchange (LME) limited the fall.
At the MCX, nickel futures for June 2016 contract is trading at Rs 624.90 per kg, down by 0.83 per cent, after opening at Rs 625, against a previous close of Rs 630.10. It touched the intra-day low of Rs 623.60 (At 15:09 hours).