 "Nickel up by 0.8% on global cues")
Nickel prices went up by 0.78% to Rs 583.40 per kg in futures trade today as speculators raised their bets, driven by a firming trend overseas and pick-up in demand at the domestic spot markets.
In futures trading at the Multi Commodity Exchange, nickel for delivery in January Rs 4.50, or 0.78%, to Rs 583.40 per kg in a business turnover of nine lots.
Similarly, the metal for delivery in February was trading higher by Rs 4.50, or 0.77%, to Rs 589.20 per kg in nine lots.
Analysts said besides rising demand from alloy-makers at domestic spot markets, a firming trend in base metals at the London Metal Exchange (LME) after data showed China's economy expanding at 6.9% last year, close to the target set by the country's leadership, influenced nickel futures here.
