Nickel prices fell by 0.44 per cent to Rs 651.20 per kg in futures market today as participants cut down their bets at existing levels.
Tepid demand from consuming industries, particularly alloy-makers, at the domestic spot markets also weighed on the prices.
At the Multi Commodity Exchange, nickel for delivery in April was down by Rs 2.90 or 0.44 per cent to Rs 651.20 per kg in a business turnover of 650 lots.
Nickel for delivery in May month fell by a similar margin to trade at Rs 657.10 per kg in 24 lots.
Analysts attributed the fall in nickel futures to offloading of positions by participants to book profits amid subdued demand from alloy-makers at the domestic spot markets.
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