Nickel prices traded higher by 1.72 per cent to Rs 975.10 per kg in futures market today as speculators built up fresh positions.
At the Multi Commodity Exchange, nickel for delivery in July moved up by Rs 16.50, or 1.72 per cent, to Rs 975.10 per kg in a business turnover of 3,796 lots.
On similar lines, the metal for delivery in August was trading higher by Rs 16.20, or 1.68 per cent, to Rs 979.30 per kg in 101 lots.
Analysts said fresh positions created by participants after upsurge in demand from alloy-makers in the physical market mainly led to the rise in nickel prices at futures trade.
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