Nickel prices advanced by 0.76 per cent to Rs 976 per kg in futures market today as speculators increased their positions, taking positive cues from spot market on soaring demand.
At the Multi Commodity Exchange, nickel for delivery in August rose by Rs 7.40, or 0.76 per cent, to Rs 976 per kg in a business turnover of 53 lots.
Likewise, the metal for delivery in July edged higher by Rs 6.50, or 0.67 per cent, to Rs 970.80 per kg in 3,021 lots.
Analysts said, widening of positions by traders on the back of rising demand from alloy-makers at domestic spot markets and a firm trend overseas kept nickel prices higher in futures trade.
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