Continued its rising streak for the third straight day, nickel prices advanced by 1.84 per cent to Rs 570.50 per kg in futures trading today on a firming global trend coupled with pick up in domestic spot demand.
At the Multi Commodity Exchange, nickel for delivery in far-month February rose by Rs 10.30, or 1.84 per cent, to Rs 570.50 per kg in business turnover of 651 lots.
On similar lines, the metal for delivery in January contracts traded higher by Rs 10, or 1.80 per cent, to Rs 564.60 per kg in 13,129 lots.
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Marketmen attributed the rising trend in nickel futures to a firming trend overseas where nickel led metals higher on hopes that physical demand may be improving in China, the world's biggest consumer.
Meanwhile, nickel surged 2.8 per cent to 68,070 yuan (USD 10,337) a metric tonne in Shanghai.
