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Nickel prices rose by Rs 8.90 to Rs 858 per kg in futures trading today as speculators created fresh positions on the back of a rise in demand from alloy-makers in the spot market.
At the Multi Commodity Exchange, nickel for delivery in August rose by Rs 8.90, or 1.05% to Rs 858 per kg in business turnover of 3,095 lots.
Similarly, nickel for delivery in September gained Rs 8.10, or 0.95% to Rs 864.70 per kg in 119 lots.
Market analysts said fresh positions built-up by speculators amid rising demand from alloy-makers in the spot market mainly pushed up nickel prices at futures trade.
They said, however, a weakening trend overseas as output from the services industry shrank in Europe, capped the gains.
