Nickel prices moved down by 0.55 per cent to Rs 921.10 per kg in futures market today as traders cut their bets, driven by easing demand from consuming industries in the spot market.
At the Multi Commodity Exchange, nickel for delivery in August fell by Rs 5.10, or 0.55 per cent, to Rs 921.10 per kg in business turnover of 961 lots.
Similarly, the metal for delivery in September weakened by Rs 4.60, or 0.49 per cent, to Rs 926.10 per kg in 42 lots.
Analysts said, the fall in nickel prices in futures trade was mostly attributed to trimming of positions by participants owing to slackened demand from alloy-makers at the domestic spot market amid weakness in select base metals overseas.
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