Nickel prices hardened by 0.62 per cent to Rs 892.20 per kg in futures trade Wednesday as participants built up fresh positions amid pick-up in demand at the domestic spot market.
At the Multi Commodity Exchange, nickel for delivery in September rose by Rs 5.50, or 0.62 per cent, to Rs 892.20 per kg in a business turnover of 4,991 lots.
Similarly, the metal for delivery in October gained Rs 4.80, or 0.54 per cent, to Rs 897.10 per kg in 171 lots.
Analysts attributed the rise in nickel futures to a fresh positions built up by traders after an uptick in demand from alloy-makers at domestic spot market.
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