Nickel prices moved down by 0.87 per cent to Rs 841.70 per kg in futures market today, tracking a weak trend overseas amid sluggish demand from alloy-makers in the domestic spot market.
At the Multi Commodity Exchange, nickel for delivery in current month fell by Rs 7.40, or 0.87 per cent, to Rs 841.70 per kg in a business turnover of 1,378 lots.
Likewise, the metal for delivery in March contracts was trading lower by Rs 7.30, or 0.86 per cent, to Rs 846.20 per kg in 20 lots.
Market analysts said the fall in nickel prices was mostly in line with a weak trend in the base metals in global markets, extending recent decline following a fresh slump in equity markets and subdued demand from alloy-makers at the domestic spot markets.
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