Nickel futures strengthen on positive demand
Nickel prices on Thursday edged up by Rs 9.20 to Rs 1,059.50 per kg in futures trade as speculators built positions owing to rising demand from alloy-makers in spot market.
On the Multi Commodity Exchange, nickel contracts for December delivery gained Rs 9.20, or 0.88 per cent, to Rs 1,059.50 per kg in a business turnover of 73 lots.
Similarly, the metal for delivery in January traded up by Rs 4.10, or 0.39 per cent, at Rs 1,049.20 per kg in a business turnover of 1,908 lots.
Rising demand in spot market from alloy-makers supported price rise in nickel futures, analysts said.
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