Buoyed by rising demand from steel makers at the physical market, nickel prices shot up by Rs 17.70, or 1.81 per cent, at Rs 996.50 per kg in futures trade today.
At the Multi Commodity Exchange, nickel for delivery in August-month contracts jumped Rs 17.70, or 1.81 per cent at Rs 996.50 per kg in a turnover of 10,468 lots.
Likewise, the metal for delivery in September month also traded higher by Rs 9.80, or 0.99 per cent, to Rs 995 per kg, clocking a turnover of 575 lots.
Market analysts said strong demand from alloy-makers, and gains in base metals in global market on weaker dollar, mainly influenced nickel prices in futures trade here.
