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Nickel fell 0.39% to Rs 1,042.40 per kg in futures trade today as speculators engaged in reducing positions amid a weak trend in global markets and subdued domestic demand.
At the Multi Commodity Exchange, nickel for delivery in current month eased by Rs 4.10, or 0.39%, to Rs 1,042.40 per kg in a business turnover of 1,645 lots.
The metal for delivery in January was also down by Rs 3, or 0.29%, to Rs 1,049.50 per kg in a turnover of 51 lots.
Analysts said the fall in nickel prices in futures trade was mostly in tune with a weakening trend in most industrial metals at the London Metal Exchange (LME) after data today showed industrial activity is contracting in China, the biggest consumer of base metals.
