Nickel prices were higher by 0.76 per cent to Rs 943 per kg in futures trade today as speculators built up positions, supported by rising demand from alloy makers in the spot market.
At the Multi Commodity Exchange, nickel for delivery in May moved up by Rs 7.10, or 0.76 per cent, to Rs 943 per kg in a business turnover of 123 lots.
Similarly, the metal for April delivery traded higher by Rs 6.60, or 0.71 per cent, to Rs 939.90 per kg in a business turnover of 1,168 lots.
Analysts said, speculators increased positions on a firming trend at the domestic spot markets on better demand from consuming industries, particularly from alloy-makers, which supported the upside in nickel futures, but a weak trend overseas capped the gains.
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