Nickel prices softened by 1.01 per cent to Rs 949.80 per kg in futures trade Monday as participants cut down their holdings following low demand from consuming industries at spot market.
At the Multi Commodity Exchange, nickel for delivery in October fell by Rs 9.70, or 1.01 per cent, to Rs 949.80 per kg in a business turnover of 83 lots.
On similar lines, the metal for delivery in September moved down by Rs 9.50, or 1 per cent, to Rs 944.90 per kg in 1,088 lots.
Market analysts attributed the fall in nickel prices in futures trade to trimming of positions by participants amid muted demand from consuming industries in the spot market.
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