Supported by rising demand from alloy-makers in domestic spot markets and a firming trend overseas, nickel prices moved up by 0.34 per cent to Rs 778.60 per kg in futures trade today.
Nickel for delivery in current month moved up by Rs 2.60 or 0.34 per cent to Rs 778.60 per kg in a business turnover of 802 lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in December traded higher by Rs 2.60 or 0.33 per cent to Rs 783.50 per kg in 135 lots.
Analysts attributed the rise in nickel prices at futures trade to rising demand from alloy-makers in the spot market and a better trend in metals at the London Metal Exchange (LME).
Globally, nickel rose 5.1 per cent to USD 11,400 per tonne at the LME as metal markets renewed their advance on stronger oil prices and optimism over demand in the US.
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