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Nickel up 0.2% on firm demand

Firmness in metal overseas supported nickel futures trade here

Press Trust of India New Delhi
Nickel futures for April gained Rs 1.80, or 0.20%, to Rs 881 per kg in 3,919 lots.

At the Multi Commodity Exchange (MCX), the May contract rose by similar margin to trade at Rs 889.10 per kg in 241 lots.

Prices moved up as speculators enlarged their positions, supported by rising spot market demand.

Firmness in metal overseas  supported the nickel futures trade here.

Increased domestic demand from alloy-makers also had a positive impact.

At the London Metal Exchange (LME), nickel rose 0.5% to $16,130 a tonne.
 

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First Published: Apr 12 2013 | 2:30 PM IST

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