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Nickel futures rise on pick-up in demand

Nickel prices rose 0.35 per cent to Rs 826.30 per kg in futures trade on Wednesday as speculators widened bets, driven by pick-up in demand in the domestic spot market. Besides, a firm trend overseas supported the upside.

At the Multi Commodity Exchange, nickel for delivery in the January was trading higher by Rs 2.90, or 0.35 per cent, to Rs 826.30 per kg in business turnover of 1,285 lots.

Analysts attributed rise in nickel futures to raising of positions by traders due to pick up in demand from alloy makers in the spot market.

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