Nickel prices edged up by 0.70 per cent to Rs 718.10 per kg in futures market today as speculators raised bets amid pick up in spot demand.
At the Multi Commodity Exchange, nickel for delivery in December went up by Rs 5, or 0.70 per cent, to Rs 718.10 per kg in a business turnover of 1,416 lots.
Likewise, the metal for delivery in January was trading higher by Rs 4.40, or 0.61 per cent, to Rs 722.90 per kg in 47 lots.
Analysts said expanding of positions by traders following increased demand from alloy-makers in the physical markets, mainly led to rise in nickel prices at futures trade.
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