 "Nickel up by 1.6% on spot demand")
Amid pick up in demand from consuming industries at the domestic spot markets and firm global cues, nickel prices traded higher 1.64% to Rs 581.50 per kg in futures trade today.
At the Multi Commodity Exchange, nickel for delivery this month moved up by Rs 9.40 or 1.64% to Rs 581.50 per kg in a business turnover of 2,227 lots.
Likewise, the metal for delivery in far-month July traded higher by Rs 9.10 or 1.57% to Rs 587.60 per kg in 28 lots.
Analysts said besides pick up in demand alloy-makers in the spot market and a firm trend in base metals in global markets, mainly attributed the rise in nickel prices at futures trade.
At the Multi Commodity Exchange, nickel for delivery this month moved up by Rs 9.40 or 1.64% to Rs 581.50 per kg in a business turnover of 2,227 lots.
Likewise, the metal for delivery in far-month July traded higher by Rs 9.10 or 1.57% to Rs 587.60 per kg in 28 lots.
Analysts said besides pick up in demand alloy-makers in the spot market and a firm trend in base metals in global markets, mainly attributed the rise in nickel prices at futures trade.