Nickel prices drifted lower by 0.36 per cent to Rs 1,053.50 per kg in futures trading today as speculators trimmed their positions amid muted demand at the domestic spot markets.
At the Multi Commodity Exchange, nickel for delivery in current month declined by Rs 3.80, or 0.36 per cent, to Rs 1,053.50 per kg, in a business turnover of 612 lots.
Likewise, the metal for delivery in July traded lower by Rs 3.50, or 0.33 per cent, to Rs 1,057.90 per kg in 12 lots.
Analysts said apart low demand from alloy-makers in the domestic spot markets, profit-booking by speculators also weighed on nickel futures prices.
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