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Nickel prices were marginally up by 0.04% to Rs 787.40 per kg in futures trade today as speculators created fresh positions amid weak cues from spot markets on pick up in demand from alloy makers.
Further, firm trend in base metals at the London Metal Exchange (LME) supported the upside.
At the Multi Commodity Exchange, nickel for delivery in April edged up by 30 paise, or 0.04% to Rs 787.40 per kg, in business turnover of 1,926 lots.
Likewise, nickel for delivery in May traded higher by 20 paise or 0.03% at Rs 795.30 per kg in 209 lots.
Analysts said besides better demand from alloy makers at domestic spot markets, a firm trend in base metals at the London Metal Exchange, as China stepped up stimulus, boosted the demand outlook.
