Supported by pick up in demand at domestic spot market, nickel prices traded higher by 0.28 per cent to Rs 577 per kg in futures trade today as traders raised their bets.
At the Multi Commodity Exchange, nickel for delivery in June rose by Rs 1.60, or 0.28 per cent, to Rs 577 per kg, in a business turnover of 1,004 lots.
On similar lines, the metal for delivery in July went up by Rs 1.50, or 0.26 per cent, to Rs 582.10 per kg in 120 lots.
Analysts said widening of positions by participants on the back of uptick in demand from alloy-makers in the physical market, mainly attributed the rise in nickel prices at futures trade.
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