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Nickel futures traded lower by Rs 5.40 to Rs 958.40 per kg today on a weakening trend overseas due to speculators trimming positions.
At the Multi Commodity Exchange, nickel for delivery in current month weakened by Rs 5.40, or 0.56%, to Rs 958.40 per kg in a business turnover of 899 lots.
Similarly, the metal for delivery in February traded lower by Rs 5.10, or 0.53%, to Rs 965.50 per kg in 21 lots.
Market analysts said weakness in base metals at the London Metal Exchange on global demand concerns mainly weighed on nickel prices in futures trade here.
