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Supported by rising spot demand and a firming trend overseas, nickel prices rose 0.31% to Rs 861 per kg in futures market today as speculators built up positions.
At the Multi Commodity Exchange, nickel for delivery in October gained Rs 2.70, or 0.31%, to Rs 861 per kg, clocking a business turnover of 862 lots.
In a similar fashion, the metal for delivery in November moved up by Rs 1.60, or 0.19%, to Rs 869 per kg in 80 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in copper and other base metals overseas mainly influenced nickel futures prices.
