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Muted demand drag down nickel futures by 0.43%

Business Finance

Press Trust of India  |  New Delhi 

Nickel prices fell by 0.43 per cent to Rs 920 per kg in futures market Thursday as speculators cut their bets amid easing demand at spot markets.

At the Multi Commodity Exchange, nickel for delivery in September fell by Rs 4, or 0.43 per cent, to Rs 920 per kg in business turnover of 221 lots.

Likewise, the metal for delivery in October moved down by Rs 3.80, or 0.41 per cent, to Rs 926.70 per kg in 97 lots.

Market analysts attributed the slide in nickel futures to offloading of positions by participants owing to slackened demand from alloy-makers in the physical market.

Meanwhile, nickel traded at USD 12,975 per tonne at the London Metal Exchange (LME).

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, September 27 2018. 11:45 IST