Nickel prices dropped 0.31 per cent in futures trade on Friday as traders cut down their bets to book profits at current levels amid a weak trend overseas.
Moreover, muted demand at the domestic spot market too put pressure on the metal prices.
In futures trading at the Multi Commodity Exchange, nickel for delivery in November was trading lower by Rs 2.70, or 0.31 per cent, at Rs 864.30 per kg in a business turnover of 903 lots.
Marketmen said the fall in nickel prices in futures trade is mostly attributed to profit-booking by participants at current levels and a weak trend at the domestic spot markets due to low demand.
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