Supported by rising demand from alloy-makers in domestic spot markets and a firming trend in base metals overseas, nickel prices moved up by 1.40 per cent to Rs 661.30 per kg in futures trade today.
In futures trading, nickel for delivery in April moved up by Rs 9.10 or 1.40 per cent to Rs 661.30 per kg, in a business turnover of 2,500 lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in May contracts too traded higher by Rs 9.20 or 1.40 per cent to Rs 667.30 per kg in 61 lots.
Market analysts attributed the rise in nickel prices at futures trade to enlarging of positions by speculators, driven by rising demand from alloy-makers in the spot market and a better trend in select metals at the London Metal Exchange (LME).
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