At the Multi Commodity Exchange, nickel for delivery in October dropped by Rs 3.30, or 0.29 per cent, to Rs 1,143.10 per kg in a business turnover of 12 lots.
The metal for delivery in current month also fell by Rs 2.40, or 0.21 per cent, to Rs 1,137.90 per kg in a turnover of 407 lots.
Market analysts said the fall in nickel prices at futures trade was mostly in tandem with a weakening trend in base metals pack at the London Metal Exchange (LME) after an official gauge of China's industrial activity dropped for the first time in six months.
Besides, subdued demand at domestic spot markets from alloy-makers and other consuming industries, weighed on prices.
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