Amid a weak trend in the global markets and subdued domestic demand, nickel fell by 0.76 per cent at Rs 722.30 per kg in futures trade today as speculators cut down bets.
At the Multi Commodity Exchange, nickel for delivery in March contracts was trading down by Rs 5.50, or 0.76 per cent, at Rs 722.30 per kg in a business turnover of 2,079 lots.
The metal for delivery this month was also down by Rs 4.90, or 0.68 per cent, to trade at Rs 716.60 per kg in a turnover of 26,432 lots.
Analysts said that the fall in nickel prices was mostly in line with a weakening trend in metals overseas on signs of a slower-than-expected demand recovery in China after Lunar New Year holidays.
Globally, nickel prices fell 0.8 per cent at the London Metal Exchange.
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