NEW DELHI, May 18:Nickel prices advanced by 1.07 per cent to Rs 1,001.70 per kg in futures trade today as participants enlarged their positions on the back of surging spot demand.
At the Multi Commodity Exchange, nickel for delivery in June month rose by Rs 10.60, or 1.07 per cent to Rs 1,001.70 per kg in business turnover of 350 lots.
In similar fashion, the metal for delivery in May contract was trading higher by Rs 10.20, or 1.03 per cent to Rs 998.30 per kg in 1,823 lots.
Analysts said expanding of positions by participants due to soaring demand from alloy-makers in the physical markets mainly kept nickel prices higher at futures trade. (PTI)
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