NEW DELHI, Nov 20: Nickel prices moved up by 0.91 per cent to Rs 1,008.30 per kg in futures trade today as speculators enlarged their position, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in metal in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in November gained Rs 9.10, or 0.91 per cent, to Rs 1,008.30 per kg in business turnover of 958 lots.
The metal for delivery in December rose by Rs 8.10, or 0.81 per cent, to trade at Rs 1,014 per kg in 58 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in base metal overseas as Indonesia re-affirmed a ban on ore exports, influenced nickel futures here.
Globally, nickel for delivery in three months at the London Metal Exchange rose USD 179 to USD 16,324 a metric tonne. (PTI)
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