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Nickel prices fell 0.16% to Rs 1,097 per kg in futures market today as speculators booked profits at prevailing higher levels after demand declined from alloy-makers in the spot market.
At the Multi Commodity Exchange, nickel for delivery in May traded lower by Rs 1.90, or 0.16%, to Rs 1,097 per kg in a business turnover of 2,831 lots.
Likewise, the metal for delivery in April shed Rs 1.60, or 0.15%, to Rs 1,092 per kg in 2,477 lots.
Analysts said besides profit-bookings by speculators at prevailing higher levels, fall in demand from alloy-makers in the spot market mainly influenced nickel prices at futures trade.
