NEW DELHI, Aug 19: Nickel prices moved up by Rs 1.60 to Rs 1,131.40 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 in select base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in September gained Rs 1.60, or 0.14 per cent, to Rs 1,131.40 per kg in business turnover of 531 lots.
In a similar fashion, the metal for delivery in current month rose by Rs 1.30, or 0.12 per cent, to Rs 1,124.20 per kg in 531 lots.
Globally, nickel gained as much as 0.5 per cent to USD 18,584 per tonne at the London Metal Exchange.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in select base metals overseas, pushed up nickel prices at futures trade here. (PTI)
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