Sluggish demand from alloy-makers within the spot market also put pressure on nickel futures costs.
At the Multi Commodity Exchange, October nickel fell through Rs 2. 30, or 0. 26%, to Rs 897 for each kg, with a business turnover of 980 lots.
The actual September contract lost Rs 1. 40, or 0. 16%, in order to Rs 888. 90 per kg in 3, 700 plenty.
Market analysts attributed the fall in nickel futures prices to some weakening trend in the entire industrial metals pack about the London Metal Exchange (LME) on concerns that Europe's sovereign debt crisis and also the prospects for slower growth in China will hurt need.
In addition, subdued demand from alloy-makers in the domestic spot market also put pressure on prices from the metal, they said.
Meanwhile, nickel lost 1. 5% in order to USD 18, 235 per tonne on the London Steel Exchange today.
Source : Business-Standard