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Nickel futures today traded lower by 0.92% to Rs 1,191.20 per kg largely in tune with a weakening trend overseas amidst subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in current month weakened by Rs 11.10, or 0.92%, to Rs 1,191.20 per kg in business turnover of 1,250 lots.
Similarly, the metal for delivery October month traded lower by Rs 11.40, or 0.94%, to Rs 1,197 per kg in 38 lots.
Globally, nickel was down 1.4% at $19,645 per tonne at the London Metal Exchange.
Market analysts said apart from weak demand from alloy-makers at domestic spot markets, a weak trend overseas as the dollar climbed, curbing demand for commodities as an investment, mainly weighed on nickel prices in futures trade here.
