Amid firm global trends and pick up in domestic demand, nickel prices shot up by 2.57 per cent to Rs 666.30 per kg in futures trade today as traders built fresh positions.
At the Multi Commodity Exchange, nickel for delivery in September month climbed Rs 16.70, or 2.57 per cent, to Rs 666.30 per kg in business turnover of 20,282 lots.
In a similar fashion, the metal for delivery in October contracts gained Rs 15.20, or 2.31 per cent, to Rs 672.10 per kg in 17,251 lots.
Analysts said besides upsurge in demand from alloy makers at domestic spot markets, firm trend in base metals in global markets led to rise in nickel prices in futures trade.
