Nickel futures strengthen on domestic demand
Nickel prices moved up by Rs 7.70 to Rs 1,221.30 per kg in futures trade on Wednesday as speculators enlarged 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 7.70, or 0.63 per cent, to Rs 1,221.30 per kg in a business turnover of 4,474 lots.
Similarly, the metal for delivery in October traded up by Rs 5.40 at Rs 1,220.40 per kg in a business turnover of 527 lots.
Rising demand at spot markets from alloy-makers supported price rise in copper futures, analysts said.
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