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Continuing a weak trend, nickel futures today fell by another 0.28% to Rs 830.70 per kg as participants indulged in reducing positions amid weak spot demand and subdued trend overseas.
At the Multi Commodity Exchange, nickel for delivery in July fell by Rs 2.30, or 0.28%, to Rs 830.70 per kg in business turnover of 597 lots.
On the similar lines, the metal for delivery in August traded lower by Rs 2.30, or 0.27%, to Rs 847.90 per kg in 61 lots.
Market analysts said besides low demand from alloy-makers in the domestic spot markets, weakness in metals overseas on slowing economic growth, continued to put pressure on nickel futures prices here.
