Nickel prices softened by 1.07 per cent to Rs 970.40 per kg in futures trading today as speculators booked profit at prevailing levels.
At the Multi Commodity Exchange, nickel for delivery in April fell by Rs 10.50, or 1.07 per cent to Rs 970.40 per kg in a business turnover of 1,224 lots.
Likewise, the metal for delivery in May was trading lower by Rs 9.40, or 0.96 per cent to Rs 974.70 per kg in 266 lots.
Market analysts attributed the slide in nickel futures to profit-booking by participants at existing levels amid subdued demand from alloy-makers in the physical market.
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