Nickel prices moved up by 0.66 per cent to Rs 743.20 per kg in futures trading today as participants widened bets, driven by pick-up in demand in the spot market amid firm global cues.
At the Multi Commodity Exchange, nickel for delivery in current month rose by Rs 4.90, or 0.66 per cent, to Rs 743.20 per kg in a business turnover of 892 lots.
Likewise, the metal for delivery in September too traded higher by Rs 4.60, or 0.62 per cent, to Rs 747.60 per kg in 786 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, which influenced nickel prices to trade higher at futures trade.
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