Nickel prices went up by 0.72 per cent to Rs 644.30 per kg in futures trade today as speculators raised their bets, driven by a firming trend overseas and pick-up in demand at the domestic spot markets.
In futures trading at the Multi Commodity Exchange, nickel for delivery in July spurted Rs 4.60 or 0.72 per cent to Rs 644.30 per kg in a business turnover of 881 lots.
Similarly, the metal for delivery in June was trading higher by Rs 4.20 or 0.66 per cent to Rs 637.50 per kg in 896 lots.
Analysts said besides increased demand from alloy-makers at domestic markets, a firming trend in base metals at the London Metal Exchange (LME) amid talk that central banks will move further to shore up economies following the UK referendum, boosting the outlook for demand, influenced nickel futures here.
