Nickel prices moved up by 0.92 per cent to Rs 692.40 per kg in futures trading today as participants widened their bets, driven by pick up in demand in the spot market amid firm global cues.
At the Multi Commodity Exchange, nickel for delivery in August rose by Rs 6.30, or 0.92 per cent, to Rs 692.40 per kg, in a business turnover of 703 lots.
Likewise, the metal for delivery in September traded higher by Rs 6.10, or 0.88 per cent, to Rs 697.30 per kg in 32 lots.
Analysts said traders enlarged position on the back of pick up in demand from alloy-makers in the spot market and extended rally in metals in global markets spurred by Chinese demand and tightening supplies, influenced nickel prices to trade higher at futures trade.
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