Nickel prices drifted lower by Rs 3 to Rs 1,161.60 per kg in futures trade on Tuesday as speculators trimmed their positions owing to weak demand at the spot market.
At the Multi Commodity Exchange, nickel for delivery in October declined by Rs 3, or 0.26 per cent, to Rs 1,161.60 per kg in a business turnover of 4,119 lots.
Similarly, the metal for delivery in November dropped by Rs 2.80, or 0.24 per cent, to Rs 1,156 per kg in 446 lots.
Muted demand from alloy makers in spot market mainly weighed on nickel future prices here, analysts said.
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