Amid pick-up in demand at the domestic spot market and a firm trend overseas, nickel prices traded higher by 1.57 per cent to Rs 974 per kg in futures trade today as participants built up fresh positions.
At the Multi Commodity Exchange, nickel for delivery in July shot up by Rs 15.10, or 1.57 per cent, to Rs 974 per kg in business turnover of 3,468 lots.
On similar lines, the metal for delivery in May contracts was trading higher by Rs 13.90, or 1.44 per cent, at Rs 978 per kg in 58 lots.
Analysts attributed the rise in nickel futures to a fresh positions built up by traders after an uptick in demand from alloy-makers at domestic spot market and a firm trend overseas.
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