Amid tepid demand at domestic spot markets, nickel prices drifted lower by 0.67 per cent to Rs 1,016.50 per kg in futures trade today as speculators reduced exposure.
At the Multi Commodity Exchange, nickel for delivery in July declined by Rs 6.90 or 0.67 per cent to Rs 1,016.50 per kg in business turnover of 1,303 lots.
Likewise, the metal for delivery in August contracts was trading lower by Rs 6.30 or 0.61 per cent to Rs 1,020.50 per kg in 53 lots.
Analysts attributed the fall in nickel futures to cutting down of positions on the back of easing demand from alloy-makers in the spot market.
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