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Nickel prices moved up by 0.53% to Rs 991.30 per kg in futures market today after speculators enlarged positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in copper and other base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in April gained Rs 5.20, or 0.53%, to Rs 991.30 per kg in business turnover of 675 lots.
In a similar fashion, the metal for delivery in May rose by Rs 5.30, or 0.53%, to Rs 997.40 per kg in 46 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in select base metals overseas, influenced nickel futures here.
