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Nickel prices moved up by 0.60 per cent to Rs 1,111.10 per kg in futures market today as speculators enlarged positions amid a firming trend overseas and spot demand.
At the Multi Commodity Exchange, nickel for delivery in June gained Rs 6.60, or 0.60 per cent, to Rs 1,111.10 per kg in a business turnover of 432 lots.
July nickel rose by Rs 6.50, or 0.58 per cent, to trade at Rs 1,118 per kg in 31 lots.
Analysts said apart from increased domestic demand from alloy-makers, firmness in base metals in global markets as a measure of Chinese manufacturing unexpectedly signalled expansion in June boosting demand prospects, influenced nickel prices at futures trade here.
