NEW DELHI, Sept 16: Supported by rising spot demand and a firming trend overseas, nickel prices moved up 0.61 per cent to Rs 1,112.90 per kg in futures market today as speculators built up positions.
At the Multi Commodity Exchange, nickel for delivery in September gained Rs 6.70, or 0.61 per cent, to Rs 1,112.90 per kg, clocking a business turnover of 651 lots.
In a similar fashion, the metal for delivery in October moved up by Rs 6.50, or 0.58 per cent, to Rs 1,121.10 per kg in 15 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness trend overseas, as most industrial metals advanced on speculation that recent price declines were excessive, mainly influenced nickel futures prices.
At the London Metal Exchange, nickel was up 1 per cent at USD 18,231 per tonne. (PTI)
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