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Supported by a firming trend in the global market and increased demand from alloy-makers, nickel prices rose 0.26% to Rs 999.30 per kg in futures trade today as speculators created fresh positions.
At the Multi Commodity Exchange, nickel for delivery in May gained by Rs 2.60, or 0.26%, to Rs 999.30 per kg, with a business turnover of 10 lots.
Similarly, the metal for delivery in April traded higher by Rs 2.30, or 0.23%, to Rs 992.60 per kg, in a turnover of 626 lots.
Marketmen said the rise in nickel prices at futures trade was mostly on the back of a firming trend in global markets on speculation that demand will improve following stronger US growth forecast by the International Monetary Fund.
