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Nickel futures for April contract dropped by Rs 4, or 0.67%, to Rs 889.90 per kg in 716 lots.
At the Multi Commodity Exchange (MCX), the May contract also fell by Rs 6.10, or 0.67%, to Rs 898.20 per kg in 102 lots.
Prices fell as speculators reduced their positions.
At the London Metal Exchange (LME), nickel dropped 1.7% to $16,380 a tonne.
Weakening trend in the base metals at LME as record unemployment in Europe added to concern that demand will weaken amid signs of slowing growth in China affected the trade.
