 "Nickel weakens by 1.1% on sluggish demand")
Nickel prices moved down by 1.12% to Rs 925.50 per kg in futures trade today on sluggish demand from alloy-makers in the spot market amid a weak global trend.
At the Multi Commodity Exchange, nickel for delivery in August month declined by Rs 10.50, or 1.12% to Rs 925.50 per kg in a turnover of 2,411 lots.
Similarly, the metal for delivery in September traded lower by Rs 10.60, or 1.12% to Rs 933.50 per kg in 163 lots.
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Traders attributed the fall in nickel prices at futures trade to a weak trend in the global market and subdued demand from alloy-makers.
Meanwhile, Nickel decreased 0.8% to $14,880 a tonne on the London Metal Exchange.