Nickel prices moved up by 2.51 per cent to Rs 629.20 per kg in futures trading today as traders widened bets, driven by pick up in demand in the spot market amid positive global cues.
At the Multi Commodity Exchange, nickel for delivery in April month rose by Rs 15.40, or 2.51 per cent, to Rs 629.20 per kg in business turnover of 19,597 lots.
Likewise, the metal for delivery in May contracts traded higher by Rs 14.70, or 2.37 per cent, to Rs 634.30 per kg in 15,260 lots.
Analysts said increased demand from alloy makers and other consuming industries in the spot market and a firm trend in overseas markets led to the rise in nickel prices at futures trade.
