Nickel prices softened by 0.53 per cent to Rs 714.60 per kg in futures trading today as participants cut down their holdings amid demand from consuming industries at spot market.
At the Multi Commodity Exchange, nickel for delivery in current month fell by Rs 3.80, or 0.53 per cent to Rs 714.60 per kg in a business turnover of 1,040 lots.
On similar lines, the metal for delivery in November moved down by Rs 3.30, or 0.46 per cent to Rs 720.80 per kg in 21 lots.
Market analysts attributed the fall in nickel prices in futures trade to trimming of positions by participants amid muted demand from consuming industries in the spot market.
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