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Nickel prices moved up by 0.49% to Rs 879 per kg in futures market today as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers.
At the Multi Commodity Exchange, nickel for delivery in January gained Rs 4.30, or 0.49%, to Rs 879 per kg in business turnover of 7 lots.
Similarly, the metal for delivery in December rose by Rs 2.30, or 0.43%, to Rs 870.70 per kg in 241 lots.
Analysts said apart from increased domestic demand from alloy-makers, firmness in select base metals at the London Metal Exchange ahead of US Fed's two-day meeting starting today, also influenced nickel futures here.
