Nickel prices moved up by 0.84 per cent to Rs 574.40 per kg in futures trading today as participants widened their bets, driven by pick up in demand in the spot market amid a firm global cues.
At Multi Commodity Exchange, nickel for delivery in far-month March rose by Rs 4.80 or 0.84 per cent to Rs 574.40 per kg in business turnover of 124 lots.
Likewise, the metal for delivery in February contracts traded higher by Rs 4.50 or 0.80 per cent to Rs 568.90 per kg in 1,957 lots.
Analysts said traders enlarged position on the back of pick up in demand from alloy-makers in the spot market and a better trend in base metals in global markets, influenced nickel prices to trade higher at futures trade.
