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Nickel prices moved up by 0.23 per cent to Rs 963.50 per kg in futures market today as speculators enlarged positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in select base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in January gained Rs 2.20, or 0.23 per cent, to Rs 963.50 per kg in business turnover of 233 lots.
Similarly, the metal for delivery in February rose by Rs 1.70, or 0.18 per cent, to Rs 972.50 per kg in 2 lots.
Analysts said besides rising demand from alloy-makers, a firming trend at the London Metal Exchange (LME), influenced nickel futures here.
