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Nickel prices recovered by Rs 4.70 to Rs 831.20 per kg in futures trading today as speculators created fresh positions, driven by a firm global trend.
At the Multi Commodity Exchange, nickel for delivery in June rose Rs 4.70, or 0.57%, to Rs 831.20 per kg in business turnover of 2,065 lots.
Similarly, nickel for delivery in July traded higher by Rs 4.40, or 0.53%, to Rs 837.50 per kg in 102 lots.
Market analysts said speculators created fresh positions in tandem with a firm global trend, where nickel recovered from almost four-year lows, mainly led to rise in metal prices at futures trade.
Besides, firm demand from alloy-makers at the spot markets also supported the upside, they said.
