Nickel prices strengthened by 0.34 per cent to Rs 926.70 per kg in futures trade today as participants raised bets amid a firm trend overseas and unabated demand from alloy-makers at the domestic spot markets.
At the Multi Commodity Exchange, nickel for delivery in August went up by Rs 3.10, or 0.34 per cent, to Rs 926.70 per kg in a business turnover of 1,345 lots.
Similarly, the metal for delivery in August gained Rs 2.80, or 0.30 per cent, to Rs 930.50 per kg in 49 lots.
Analysts said expansion of positions by traders and a firm trend in select base metals overseas, influenced the metal prices in futures trade here.
Besides, pick up in demand from alloy-makers in the spot markets too supported the upmove, they added.
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