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Nickel prices moved up by 0.99 per cent to Rs 829.50 per kg in futures trade today as speculators enlarged their positions on the back of pick up in demand in the spot market on firming global trend.
At the Multi Commodity Exchange, nickel for delivery in June gained Rs 8.10, or 0.99 per cent, to Rs 829.50 per kg in business turnover of 341 lots.
The May contract moved up by Rs 7.60, or 0.93 per cent, to Rs 822.30 per kg in 3,869 lots.
Analysts said apart from increased demand from alloy-makers in the spot market, firm trend at the London Metal Exchange, mainly led an upsurge in nickel prices at futures.
Meanwhile, nickel advanced 3.7 per cent to $15,225 a tonne at the LME.
