Nickel prices traded higher by Rs 1.60 to Rs 942.70 per kg in futures trade today on pick-up in demand from alloy-makers in the spot market amid a firming global trend.
At the Multi Commodity Exchange, nickel for delivery in August rose by Rs 1.60, or 0.17%, to Rs 942.70 per kg in business turnover of 164 lots.
July nickel traded higher by Rs 1.50, or 0.16%, to Rs 935.60 per kg in 3,260 lots.
Market analysts said pick up in demand from alloy-makers in the spot market and a firm global trend mainly led to rise in nickel prices at futures market.
Meanwhile, nickel gained 0.4% to $17,000 a tonne on the London Metal Exchange.