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Nickel prices softened by 0.19% to Rs 948.40 per kg in futures market today as speculators reduced exposures amidst low demand from alloy makers in spot market even as the metal strengthened overseas.
At the Multi Commodity Exchange, nickel for delivery in current month traded lower by Rs 1.80, or 0.19%, to Rs 948.40 per kg in a business turnover of 949 lots.
Similarly, the metal for delivery in February weakened by Rs 1.70, or 0.18%, to Rs 955.30 per kg in 15 lots.
Analysts said subdued demand from alloy makers in the spot market mainly influenced nickel prices in futures trade but the metal's strength at the London Metal Exchange capped the fall.
