Nickel prices moved up by Rs 2.40 to Rs 719 per kg in futures market today after speculators widened positions, tracking a firming trend in spot market on increased demand from alloy-makers.
At the Multi Commodity Exchange, nickel for delivery in December gained Rs 2.40, or 0.33 per cent, to Rs 719 per kg in a business turnover of 455 lots.
In a similar manner, the metal for delivery in January rose by Rs 2.30, or 0.32 per cent, to Rs 724.10 per kg in five lots.
Market analysts said raising of bets by participants, driven by increased domestic demand from alloy-makers and other consuming industries at the domestic spot markets, influenced nickel futures here.
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