NEW DELHI: Amid a weak trend in the global markets and subdued domestic demand, nickel prices dropped 0.67 per cent to Rs 889.90 per kg in futures trade today as speculators reduced their positions. At the Multi Commodity Exchange, nickel for delivery in April dropped by Rs 4, or 0.67 per cent, to Rs 889.90 per kg in a business turnover of 716 lots. The metal for delivery in May also fell by Rs 6.10, or 0.67 per cent, to Rs 898.20 per kg in a turnover of 102 lots. In the global market, nickel dropped 1.7 per cent to $ 16,380 a tonne at the London Metal Exchange (LME). Analysts said the fall in nickel prices at futures trade was mostly in tandem with a weakening trend in the base metals at the LME as record unemployment in Europe added to concern that demand will weaken amid signs of slowing growth in China.

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