Nickel prices edged higher by Rs 5.80 or 0.65 per cent, to Rs 900.70 per kg in futures market today, as speculators engaged in creating fresh positions on the back of pick up in spot demand at the physical markets amid better trend overseas.
At the Multi Commodity Exchange, nickel for July-month rose Rs 5.80 or 0.65 per cent, to Rs 900.70 per kg, with a turnover of 22,302 lots.
Similarly, the metal for delivery in August-month gained Rs 5.60 or 0.62 per cent, to Rs 907.50 per kg, with a business turnover of 2,180 lots.
At the London Metal Exchange, nickel for three-month delivery rose by USD 150 or 0.79 per cent at USD 19,100 per tonne.
Analysts said that besides recovery at the London Metal Exchange, good demand from alloy-makers, helped nickel prices rise at futures trade here.