Tracking a firming trend in global markets, nickel prices rose by Rs 6.70 to Rs 924.80 per kg in futures market today on speculators extending their positions.
At the MCX, nickel for delivery in April rose by Rs 6.70, or 0.73% today to reach Rs 924.80 per kg in business turnover of 5,110 lots.
Similarly, the May contract moved up by Rs 6.30, or 0.68%, to Rs 935.50 per kg in 413 lots.
Analysts said nickel prices along with other base metals picked up pace today tracking the international markets that were trading firm on the back of a rise in the global growth forecast projected by the International Monetary Fund.
In the local markets, a surge in demand from alloy-makers in the spot market mainly led to the rise in nickel future prices.
Nickel added 0.5% to touch $17,915 a tonne on the London Metal Exchange.
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