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Nickel futures rise on firm spot demand

Press Trust of India  |  New Delhi 

Nickel prices edged up by Rs 8.80 to Rs 1,225.60 per kg in futures trade on Tuesday as speculators built their positions owing to rising demand from alloy-makers in the spot market.

On the Multi Commodity Exchange, nickel contracts for October delivery gained Rs 8.80, or 0.72 per cent, to Rs 1,225.60 per kg in a business turnover of 5,957 lots.

Similarly, the metal for delivery in November traded up by Rs 9.10, or 0.75 per cent, at Rs 1,224 per kg in a business turnover of 214 lots.

Rising demand at spot market from alloy-makers supported price rise in nickel futures, analysts said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 01 2019. 12:30 IST