Buoyed by strong spot demand and a firming global trend, nickel rose 0.35 per cent, or Rs 3.60, to Rs 1,082.10 per kg in futures trade today.
Analysts said besides strong demand at spot markets from alloy makers, firming trend in copper and other base metals at the London Metal Exchange after a weak dollar boosted demand for the raw materials as an investment option, raised the nickel futures prices here.
At the Multi Commodity Exchange counter, nickel contract for delivery in October gained Rs 3.60, or 0.35 per cent, to Rs 1,082.10 per kg, clocking a turnover of 88 lots.
In a similar fashion, the metal for current-month delivery also edged up by Rs 3.70, or 0.30 per cent, to Rs 1,076 per kg, with a business turnover of 940 lots.
Meanwhile, at the London Metal Exchange counter, nickel traded 1.1 per cent higher to $23,460 per tonne.