Nickel futures eased 0.16 per cent to Rs 873 per kg today as participants reduced their exposures amid a weak trend overseas.
At the Multi Commodity Exchange, nickel for delivery in May fell by Rs 1.40, or 0.16 per cent, to Rs 873 per kg in a business turnover of 2,269 lots.
The metal for delivery in June fell by 40 paise, or 0.05 per cent, to trade at Rs 881.70 per kg in a turnover of 264 lots.
Globally, nickel in London and Shanghai fell for the second day. The metal on the London Metal Exchange dropped 0.6 per cent to USD 13,670 per tonne, while in Shanghai, the July contract fell 1.5 per cent to 106,950 yuan a tonne.
Market analysts said besides subdued spot demand at domestic markets, a weak trend in base metals overseas as investors await housing data from the US, the world’s second-biggest consumer, mainly weighed on nickel futures here.