Amid pick up in demand at the domestic spot markets, nickel prices went up by 0.50 per cent to Rs 566.80 per kg in futures trading today as traders raised their bets.
At the Multi Commodity Exchange, nickel for delivery in June traded higher by Rs 2.80, or 0.50 per cent to Rs 566.80 per kg in business turnover of 861 lots.
Likewise, the metal for delivery in July contracts gained Rs 2.70, or 0.47 per cent to Rs 572.40 per kg in 24 lots.
Analysts said widening of positions by participants following pick up in demand from alloy-makers in the physical market, mainly attributed the rise in nickel prices at futures trade.
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