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Nickel prices dropped 0.26% to Rs 934.10 per kg in futures trade today after participants reduced holdings tracking a weak trend overseas amid sluggish demand from alloy-makers in the spot market.
At the Multi Commodity Exchange, nickel for delivery in October fell by Rs 2.50, or 0.26%, to Rs 934.10 per kg in a business turnover of 187 lots.
The metal for delivery in November shed Rs 2.20, or 0.23%, to Rs 942.10 per kg in six lots.
Market analysts said speculators reduced their positions due to sluggish demand from alloy-makers in the spot market amid a weak global trend, mainly led to decline in nickel prices at futures trade.
