Nickel prices fell further by 0.50 per cent to Rs 995 per kg in futures trading today as speculators engaged in reducing their positions, tracking a weak trend at spot market on tepid demand.
At the Multi Commodity Exchange, nickel for delivery in May declined by Rs 5, or 0.50 per cent to Rs 995 per kg in business turnover of 1,751 lots.
Similarly, the metal for delivery in June was trading lower by Rs 4.50, or 0.45 per cent to Rs 1,000 per kg in 101 lots.
Analysts said off-loading of positions by participants owing to slackened demand from alloy makers in the domestic spot market mainly kept nickel prices down at futures trade.
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