 "Nickel up by 1.6% on spot demand")
Amid pick up in demand from consuming industries at the domestic spot markets and firm global cues, nickel prices traded higher 1.64% to Rs 581.50 per kg in futures trade today.
At the Multi Commodity Exchange, nickel for delivery this month moved up by Rs 9.40 or 1.64% to Rs 581.50 per kg in a business turnover of 2,227 lots.
Likewise, the metal for delivery in far-month July traded higher by Rs 9.10 or 1.57% to Rs 587.60 per kg in 28 lots.
Analysts said besides pick up in demand alloy-makers in the spot market and a firm trend in base metals in global markets, mainly attributed the rise in nickel prices at futures trade.
