New Delhi, Dec 6 (PTI) Amid a weak trend in the global markets and subdued domestic demand, nickel fell by 0.23 per cent at Rs 701 per kg in futures trade today as speculators cut down bets.

At the Multi Commodity Exchange, nickel for delivery in December was trading down by Rs 1.60, or 0.23 per cent, at Rs 701 per kg in a business turnover of 1,215 lots.

The metal for delivery in January was also down by Rs 1.50, or 0.21 per cent, to trade at Rs 706.30 per kg in a turnover of 26 lots.

Analysts said that the fall in nickel prices was mostly in line with a weakening trend in metals overseas.

Globally, nickel prices fell 1.8 per cent, to USD 11,175 per tonne at the London Metal Exchange.

This is published unedited from the PTI feed.