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Nickel futures for April dropped by Rs 9.70, or 1.16%, to Rs 823.90 per kg in 3,710 lots.
At the Multi Commodity Exchange (MCX), the May contract also fell by Rs 9.70, or 1.15%, to Rs 831 per kg in 533 lots.
Prices dropped due to sluggish demand from alloy-makers in domestic spot market.
At the London Metal Exchange (LME), nickel dropped 1.60%.
Weakening trend in base metal pack at LME on demand concern as the International Monetary Fund (IMF) lowered its outlook for the global economy affected the trade.
