Nickel rebounded by Rs 7.10 to Rs 956.40 per kg in futures trading today on rising demand particularly from alloy makers at physical markets amid firming trend at London Metal Exchange.
At the Multi Commodity Exchange counter, nickel for July month contract shot up by Rs 7.10, or 0.75 per cent to Rs 956.40 per kg with an open interest of 114 lots.
Similarly, the metal for delivery in current month June contract gained Rs 5, or 0.53 per cent to Rs 948.40 per kg in 13,398 lots.
Analysts said that besides overnight gains in its prices at the London Metal Exchange, fresh buying by traders due to rise in demand from alloy makers attributed to the rise in nickel prices at futures trade.
Meanwhile,nickel added 0.8 per cent to 20,380 dollar a metric tonne on the London Metal Exchange.