Supported by rising demand from
alloy-makers in domestic spot markets, nickel prices moved up 0.28 per cent to Rs 891.40 per kg in futures trade Tuesday.
Nickel for delivery in the current month grew Rs 2.50, or 0.28 per cent, to Rs 891.40 per kg in a business turnover of 1,185 lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in October traded higher by Rs 2.10 - or 0.23 per cent - to Rs 896.60 per kg in 31 lots.
Analysts attributed the rise in nickel prices to widening of bets by participants on the back of rising demand from alloy-makers in the spot market but a weak trend in the base metals pack at the London Metal Exchahge (LME), capped the gains.
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