Nickel prices fell 0.58 per cent to Rs 754.20 per kg in futures market Wednesday amid profit-booking by speculators.
Tepid demand from consuming industries in spot market also weighed on the prices.
At the Multi Commodity Exchange, nickel for delivery in December was trading lower by Rs 4.40, or 0.58 per cent at Rs 754.20 per kg in a business volume of 196 lots.
Analysts attributed the fall in nickel futures to profit-booking at existing levels by participants and a weak trend at the spot markets due to muted demand from alloy-makers.
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