Nickel prices edged up by Rs 3.50 to Rs 1,231.30 per kg in futures trade on Thursday as investors raised their positions driven by firm demand from alloy-makers in the spot market.
On the Multi Commodity Exchange, nickel contracts for September delivery gained Rs 3.50, or 0.29 per cent, to Rs 1,231.30 per kg in a business turnover of 4,965 lots.
Similarly, the metal for delivery in October traded up by Rs 4.40, or 0.36 per cent, at Rs 1,229.20 per kg in a business turnover of 378 lots.
Increase in demand at spot markets from alloy-makers supported price rise in nickel futures, analysts said.
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