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Nickel prices gained 0.12% to Rs 1,059.20 per kg in the futures trade today as speculators enlarged positions, supported by rising demand from alloy-makers in the spot market.
Besides, a firming trend in copper and other base metals at the London Metal Exchange (LME) also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in September marginally up by Rs 1.30, or 0.12%, to Rs 1,059.20 per kg in a business turnover of 473 lots.
The metal for delivery in October traded higher by a similar margin at Rs 1,066.40 per kg in 205 lots.
Analysts said the rise in nickel prices at futures trade was mostly on the back of rising demand from alloy-makers at domestic spot markets amid a firming trend in base metals at the LME ahead of US GDP data.
