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Nickel futures down on subdued demand from alloy makers

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Press Trust of India New Delhi

Nickel futures prices moved down by Rs 3.20 to Rs 1,315.20 per kg today, due to subdued demand from alloy makers. 

At the Multi Commodity Exchange, nickel for delivery in April moved down by Rs 3.20, or 0.24 per cent, to Rs 1,315.20 per kg, with a business turnover of just one lot. 

Similarly, the metal for delivery in March shed Rs 3, or 0.23 per cent, to Rs 1,309.70 per kg, with an open interest of just two lots.

Market analysts said subdued demand from alloy makers mainly pushed down nickel prices at futures trade here.

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First Published: Mar 01 2011 | 2:23 PM IST

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