NEW DELHI, Mar 13: Nickel futures prices today moved up by 0.34 per cent to Rs 933.30 per kg as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in the base metals pack at the London Metal Exchange (LME) supported the upside.
At the Multi Commodity Exchange, nickel for delivery in April gained Rs 3.20, or 0.34 per cent, to Rs 933.30 per kg in business turnover of 361 lots.
In a similar fashion, the metal for delivery in March rose by Rs 3, or 0.32 per cent, to Rs 926.70 per kg in 4,619 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in copper and other base metals at the LME as signs of strength in Chinese auto sales and progress in the US labour market brightened the outlook for demand, also influenced nickel futures here.
Meanwhile, nickel prices advanced 0.8 per cent to USD 17,030 per tonne on the LME. (PTI)
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