Nickel prices rose by Rs 5 per kg at the non-ferrous metal market today, tracking a firm trend in the Asian markets amid increase in demand from consuming industries.
Traders said buying activity in nickel picked up after the metal rose sharply in Shanghai, where investors continued to pile into the metal.
In London, trading resumed after a UK public holiday on Monday.
Globally, the most traded nickel for July on the ShFE rose by 2.4 per cent to 112,500 yuan (USD 17,558.37) a tonne, its highest since June 2015. Shanghai nickel is up by around 7.9 per cent so far this month.
Besides, pick-up in demand from alloy-makers at the domestic spot market fuelled the uptrend, they said.
In the national capital, nickel plate (4x4) advanced by Rs 5 to Rs 870-875 per kg.
Following are today's metal rates (in Rs per kg):
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