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Nickel prices moved up by 0.36% to Rs 871.10 per kg in futures market today after speculators enlarged position on the back of increased demand in spot market from alloy-makers amid a firming trend overseas.
At the Multi Commodity Exchange, nickel for delivery in November gained Rs 3.10, or 0.36%, to Rs 871.10 per kg in business turnover of 34 lots.
In a similar fashion, the metal for delivery in October gained Rs 2.50, or 0.29%, to Rs 862 per kg in 453 lots.
Market analysts said apart from increased domestic demand from alloy-makers, a firming trend in base metals at the London Metal Exchange, mainly influenced nickel futures prices.
