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Nickel prices moved down by 0.78% to Rs 970.60 per kg in futures trade today on sluggish demand from alloy-makers in the spot market amid a weak global trend.
At the Multi Commodity Exchange, nickel for delivery in March declined by Rs 7.60, or 0.78% to Rs 970.60 per kg in a turnover of 1,066 lots.
Similarly, the metal for delivery in April traded lower by Rs 7.60, or 0.77%, to Rs 976.70 per kg in 126 lots.
Globally, nickel slid 0.6% to $16,000 a tonne at the London Metal Exchange.
Traders attributed the fall in nickel prices at futures trade to subdued domestic demand, particularly from alloy-makers, and a weak trend in the global market after a gauge showing that Chinese factory production missed estimates in March, damping demand prospects in the world's biggest user of metals.
