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Taking weak cues from global market and muted demand at the domestic spot market, nickel prices dropped 0.20% to Rs 633.30 per kg in futures trade today as traders cut down bets.
At Multi Commodity Exchange, nickel for delivery in August was trading Rs 1.30, or 0.20%, down at Rs 633.30 per kg in a business turnover of 368 lots.
The metal for delivery September also shed 60 paise, or 0.09%, to Rs 641.40 per kg in a turnover of 75 lots.
Analysts said the fall in nickel prices in futures trade is mostly attributed to a weakening trend in base metal at the London Metal Exchange (LME) and easing demand from alloy-makers at the domestic spot market.
