Nickel prices moved up by Rs 3.10 to Rs 702.10 per kg in futures market today after speculators widened positions, tracking a firming trend in spot market on increased demand from alloy-makers.
At the Multi Commodity Exchange, nickel for delivery in December gained Rs 3.10, or 0.44 per cent, to Rs 702.10 per kg in business turnover of 532 lots.
In a similar manner, the metal for delivery in January rose by Rs 2.60, or 0.37 per cent, to Rs 707 per kg in two lots.
Market analysts said apart from increased domestic demand from alloy-makers and other consuming industries, influenced nickel futures here.
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