Nickel futures drifted down by 0.53 per cent to Rs 921 per kg today as speculators trimmed positions, taking cues from spot market on sluggish demand.
At the Multi Commodity Exchange, nickel for delivery in May declined by Rs 4.90, or 0.53 per cent, to Rs 921 per kg in a business turnover of 2,316 lots.
Likewise, the metal for delivery in April contracts was trading lower by Rs 2.20, or 0.24 per cent, to Rs 921.20 per kg in 2,877 lots.
Market analysts said offloading of positions by participants due to subdued demand from alloy-makers in the physical markets influenced nickel futures.
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