Supported by strong spot demand and a firming global trend, nickel continued its upward journey and rose by Rs 8.30, or 0.77 per cent, to Rs 1,085 per kg in futures trade today.
At the Multi Commodity Exchange counter, nickel contracts for delivery in far-month November gained Rs 8.30, or 0.77 per cent, to Rs 1,085 per kg, clocking a turnover of 104 lots.
In a similar fashion, the metal for current-month delivery also edged up by Rs 6.90, or 0.65 per cent, to Rs 1,072.70 per kg, with a turnover of 11,641 lots.
Analysts said the sustained rise in nickel futures was mainly due to the firming trend in the domestic physical market on the back of rising demand from alloy makers, besides the upswing in global markets, analysts said.