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Nickel futures edge up on spot demand

Nickel prices on Wednesday edged up 20 paise to Rs 1,018.50 per kg in futures trade as speculators built positions owing to rising demand from alloy-makers in domestic market.

On the Multi Commodity Exchange, nickel contracts for January delivery gained 20 paise, or 0.02 per cent, to Rs 1,018.50 per kg in a business turnover of 4,362 lots.

The metal for delivery in February gained 30 paise, or 0.03 per cent, to Rs 1,010.80 per kg in a business turnover of 88 lots.

In September 2017, Anglo Pacific Group PLC (LON:APF) entered into a royalty agreement with Brazilian Nickel Ltd (Brazilian Nickel) to acquire an initial 1% gross revenue royalty over the Piauí nickel-cobalt project.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.