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Nickel prices were up by 0.72% to Rs 1,125.70 per kg in futures market today as speculators enlarged positions amid a firming trend overseas and spot demand.
At the Multi Commodity Exchange, nickel for delivery in September gained Rs 8.10, or 0.72%, to Rs 1,125.70 per kg in a business turnover of 1,859 lots.
The metal for delivery in October rose by a similar margin to Rs 1,132.50 per kg in 52 lots.
Analysts said apart from increased domestic demand from alloy-makers, firmness in base metals in global markets ahead of industrial output data from China, the biggest consumer of base metals, influenced nickel prices in futures trade here.
