Nickel prices were up by 0.23 per cent to Rs 916.10 per kg in futures market Tuesday as speculators raised bets, driven by pick up in demand from consuming industries in the spot market.
At the Multi Commodity Exchange, nickel for delivery in February rose Rs 2.10, or 0.23 per cent, to Rs 916.10 per kg in business turnover of 2,178 lots.
Market analysts attributed the rise in nickel futures to fresh positions built up by participants due to upsurge in demand from alloy-makers in the physical market.
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