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Nickel prices surged by 0.32% to Rs 885 per kg in futures trade today as speculators enlarged their positions on the back of strong demand from alloy-makers in the spot market amid a firming global trend.
At the Multi Commodity Exchange, nickel for delivery in October month up by Rs 2.80, or 0.32%, to Rs 885 per kg in business turnover of 166 lots.
In a similar fashion, nickel for delivery in September edged higher by Rs 2.60, or 0.30%, to Rs 876.10 per kg in 1,887 lots.
Market analysts said the rise in nickel futures was attributed to rising demand at spot market from alloy-makers and a firming trend overseas.
