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Nickel prices moved up by Rs 3.90 to Rs 920.80 per kg in futures market today after speculators enlarged positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend at the London Metal Exchange supported the upside.
At the Multi Commodity Exchange, nickel for delivery in June gained Rs 3.90, or 0.43%, to Rs 920.80 per kg in business turnover of 56 lots.
In a similar manner, the metal for delivery in May month rose by Rs 3.40, or 0.37%, to Rs 912.80 per kg in 815 lots.
Market analysts said apart from increased domestic demand from alloy-makers and other consuming industries, firmness in base metal overseas, influenced nickel futures here.
