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Nickel prices moved up by 0.17% to Rs 979.20 per kg in the futures market today as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in copper and other base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in March gained Rs 1.70, or 0.17%, to Rs 979.20 per kg in business turnover of 1,745 lots.
The metal for delivery in April rose by Re 1, or 0.10%, to trade at Rs 983 per kg in 82 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in base metals overseas, influenced nickel prices at futures trade.
