After taking cues from recovery in the entire base metals pack at the London Metal Exchange, nickel prices rose by Rs 7.50, or 0.83 per cent, to Rs 912 per kg in futures trade today.
Better demand, particularly from alloy makers at physical markets also influenced the nickel prices at futures trade.
On the Multi Commodity Exchange counter, nickel for delivery in September contract moved up by Rs 7.50, or 0.83 per cent, to Rs 912 per kg, with a turnover of one lot.
Similarly, the metal for delivery in July contract gained Rs 6.90, or 0.76 per cent, to Rs 901.60 per kg, clocked a turnover of 58 lots, while delivery in August rose Rs 6.70, or 0.74 per cent, to Rs 907.40 per kg, with a turnover of one lot.
Analysts said besides, recovery in base metals at the London Metal Exchange on the back of positive US job data, which boosted confidence of global recovery, strong demand from domestic alloy makers also supported an upward trend in nickel futures prices here.
Meanwhile, nickel three-month delivery advanced 0.5 per cent to $18,900 a tonne at the London Metal Exchange.
