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Muted demand, weak global cues drag down nickel futures

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Nickel prices slipped by 1.26 percent in futures trade on March 8 as participants trimmed bets amid muted demand at the domestic physical market and weak global cues.

Nickel for delivery in March was trading lower by Rs 11.70, or 1.26 per cent, at Rs 914.80 per kg in futures trading at the Multi Commodity Exchange. It clocked a business turnover of 7,179 lots.

Low demand from alloy-makers at the domestic spot market and a weak trend in base metals at the global market led to the fall in nickel futures here, traders said.



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