Nickel futures fall 0.96% on weak overseas cues, low demand

NEW DELHI, July 6: Nickel prices drifted down by 0.96 per cent to Rs 974 per kg in futures market today as speculators reduced exposure amid easing demand at spot markets and a weak trend overseas.
At the Multi Commodity Exchange, nickel for delivery in August fell by Rs 9.40, or 0.96 per cent, to Rs 974 per kg in a business turnover of 434 lots.
Likewise, the metal for delivery in July contracts moved down by Rs 8.30, or 0.85 per cent, to Rs 968.70 per kg in 10,624 lots.
Analysts attributed the fall in nickel futures to cutting down of positions by participants owing to slackened demand from alloy-makers in the spot market and weak global cues. (PTI)


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