Amid muted demand at domestic spot markets and profit-booking by speculators, nickel prices dropped 0.55 per cent to Rs 1,029.20 per kg in futures trade today.
At the Multi Commodity Exchange, nickel for delivery in July was trading down by Rs 5.70, or 0.55 per at Rs 1,029.20 per kg, in a business turnover of 1,347 lots.
The metal for delivery in June also shed Rs 4.60, or 0.45 per cent, to Rs 1,025.60 per kg, in a turnover of 1,347 lots.
Analysts said the fall in nickel prices is mostly attributed to a weakening trend at the domestic spot markets due to easing demand from alloy-makers.
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