Nickel prices moved up by 0.97 per cent to Rs 946 per kg in futures trading today as speculators enlarged positions, driven by upsurge in demand in the spot market.
At the Multi Commodity Exchange, nickel for delivery in May rose by Rs 9.10, or 0.97 per cent to Rs 946 per kg in business turnover of 1,746 lots.
Likewise, the metal for delivery in June was trading higher by Rs 8.90, or 0.95 per cent to Rs 948.90 per kg in 53 lots.
Analysts said expanding of positions by participants due to rising demand from alloy-makers in the physical markets mainly attributed the rise in nickel prices at futures trade.
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