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Nickel prices edged up by 0.22 per cent in futures trade today, supported by a firming trend overseas along with pick-up in spot demand.
At the Multi Commodity Exchange, nickel for delivery in May rose by Rs 2.30, or 0.22 per cent to Rs 1,032.70 per kg, with a business volume of 1,236 lots.
Likewise, the metal for delivery in June traded Rs 1.10 or 0.11 per cent higher at Rs 1,042.10 per kg with a trade turnover of 538 lots.
Market analysts said apart from firmness in nickel at the London Metal Exchange, increased demand from alloy-makers led to rise in nickel futures prices.
Meanwhile, nickel climbed 0.3 per cent to $23,150 per tonne on the London Metal Exchange.
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