Rising for the second day, nickel prices gained 1.06 per cent to Rs 564.60 per kg in futures market today as participants enlarged their positions, tracking a firm trend at spot market on surging demand.
At the Multi Commodity Exchange, nickel for delivery in May rose by Rs 5.90, or 1.06 per cent, to Rs 564.60 per kg in a business turnover of 3,801 lots.
Similarly, the metal for delivery in far-month June contracts traded higher by Rs 5.50, or 0.97 per cent, to Rs 570.70 per kg in 946 lots.
Analysts said increased position of traders on the back of a firm trend at spot market on rising demand from alloy-makers, mainly influenced nickel prices at futures trade.
