Nickel prices dipped 1.49 per cent to Rs 879.10 per kg in futures trade Thursday as speculators cut down their positions, taking negative cues from the spot market.
At the Multi Commodity Exchange, nickel for delivery in April fell by Rs 13.30, or 1.49 per cent, to Rs 879.10 per kg in a business turnover of 12,630 lots.
Similarly, the metal for May delivery traded lower by Rs 11.70, or 1.3 per cent, at Rs 886.80 per kg in a business turnover of 389 lots.
Market analysts said, offloading of positions by participants following the fall in demand from alloy makers mainly influenced nickel prices here.
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