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Nickel prices declined 0.23% to Rs 1,138.30 per kg in futures trading today as speculators reduced their holdings amid a weak global trend.
At the Multi Commodity Exchange, nickel for delivery in current month, August eased by Rs 2.60, or 0.23%, to Rs 1138.30 per kg in business turnover of 1,231 lots.
On the similar lines, the metal for delivery in September shed Rs 2.10, or 0.18%, to Rs 1,145 per kg in 293 lots.
Market analysts said off-loading of positions by speculators in tune with a weak global trend in base metals and ending monthly settlement mainly kept pressure on nickel futures.
Meanwhile, nickel for delivery in three months on the London Metal Exchange was 0.4% lower at USD 18,880 a metric tonne.
