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Nickel futures traded lower by 0.50% to Rs 947.80 per kg today, taking weak cues from overseas markets amid subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in current month weakened by Rs 4.80, or 0.50%, to Rs 947.80 per kg in a business turnover of 990 lots.
Similarly, the metal for delivery in December traded lower by Rs 4.70, or 0.49%, to Rs 955.30 per kg in 70 lots.
Market analysts said apart from weak demand from alloy makers at domestic spot markets, a weak trend in base metals overseas, as a stronger dollar lowered the attractiveness of commodities priced in the greenback as an alternative investment, mainly weighed on nickel prices in futures trade here.
