Nickel prices drifted lower by 1.39 per cent to Rs 745.80 per kg in futures trading Wednesday as speculators trimmed their positions amid muted spot demand.
At the Multi Commodity Exchange, nickel for delivery in current month declined by Rs 10.50, or 1.39 per cent, to Rs 745.80 per kg in a business turnover of 16,177 lots.
Likewise, the metal for delivery in January traded lower by Rs 9.10, or 1.19 per cent, to Rs 754.00 per kg in 2,349 lots.
Analysts said apart low demand from alloy-makers in spot markets, profit-booking by speculators weighed on nickel futures prices.
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