It's reported that nickel futures prices at the Multi Commodity Exchange (MCX) in India decreased by 0.24% to INR 963.20/kg on January 7th, 2013 with a turnover of 1,002 lots, showing a sign of weakening in the global markets.

Furthermore, the metal for February delivery fell by 0.21%, down INR 2 to INR 969.40/kg with a turnover of 82 lots.

Apart from slow global demand and weakness in base metals at the London Metal Exchange, the US Fed's plan to end monthly US$85 billion bond-buying program sometime this year, also puts pressure on nickel futures.