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Nickel prices moved down by Rs 3.40 to Rs 842.40 per kg in futures trade today on sluggish demand from alloy-maker in the spot market amid a weak global trend.
At the Multi Commodity Exchange, nickel for delivery in December fell by Rs 3.40, or 0.40%, to Rs 842.40 per kg in business turnover of 476 lots.
Similarly, the metal for delivery in January moved down by Rs 3.10, or 0.36%, to Rs 851.70 per kg in 25 lots.
Market analysts said besides subdued demand from alloy- makers in the spot market, weak trend in overseas markets as signs the US economy is strengthening stoked concern that the Federal Reserve may soon start tapering its stimulus also put pressure on nickel futures.
