 "Nickel up by 0.8% on global cues")
Nickel prices moved up by Rs 4.80 to Rs 603.70 per kg in futures market today as speculators raised their bets amid a firming trend overseas and spot demand.
At the Multi Commodity Exchange, nickel for delivery in June gained Rs 4.80 or 0.80% to Rs 603.70 per kg in a business turnover of 1,077 lots.
The metal for delivery in July rose by Rs 4.80 or 0.79% to trade at Rs 609.70 per kg in 5 lots.
Globally, nickel added 1.6% to trade at one-month high of $9,050 per tonne at the LME.
At the Multi Commodity Exchange, nickel for delivery in June gained Rs 4.80 or 0.80% to Rs 603.70 per kg in a business turnover of 1,077 lots.
The metal for delivery in July rose by Rs 4.80 or 0.79% to trade at Rs 609.70 per kg in 5 lots.
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Analysts said apart from increased domestic demand from alloy-makers, firmness in the base metals at the London Metal Exchange (LME), influenced nickel prices at futures trade.
Globally, nickel added 1.6% to trade at one-month high of $9,050 per tonne at the LME.