Nickel prices declined by 1.60 per cent to Rs 925.20 per kg in futures trade Monday as speculators cut down their bets, driven by easing demand in the spot market.
At the Multi Commodity Exchange, nickel for delivery in October was trading lower by Rs 15, or 1.60 per cent, to Rs 925.20 per kg, in a business turnover of 967 lots.
Analysts said offloading of positions by participants due to sluggish demand from alloy-makers in the domestic spot market and weakness in some base metals overseas, mainly weighed on nickel prices at futures trade.
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