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Nickel futures weaken by 0.52% on weak spot cues

Press Trust of India  |  New Delhi 

Nickel prices traded lower by 0.52 per cent to Rs 887.70 per kg in futures trading today as speculators cut down bets, taking negative cues from spot market on subdued demand from consuming industries.

At the Multi Commodity Exchange, nickel for April delivery in May declined by Rs 4.60, or 0.52 per cent to Rs 887.70 per kg in business turnover of 105 lots.

Likewise, the for delivery in April was trading lower by Rs 4.40, or 0.49 per cent to Rs 884.90 per kg in 3,918 lots.

Analysts said offloading of positions by traders due to decline in demand from alloy-makers in the physical markets, mainly influenced nickel prices at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 11 2018. 12:05 IST