Amid pick up in demand in the domestic spot market, nickel prices edged higher by 0.09 per cent to Rs 893.50 per kg in futures market today as speculators built up fresh positions.
At the Multi Commodity Exchange, nickel for delivery in March month edged higher by 80 paise, or 0.09 per cent to Rs 893.50 per kg in business turnover of 327 lots.
Similarly, the metal for delivery in February contracts was enquired higher by 50 paise, or 0.06 per cent to Rs 890.40 per kg in 1,528 lots.
Analysts attributed the rise in nickel futures to fresh positions created by traders due to uptick in demand from alloy-makers in the physical market.
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