Nickel up by 0.9% on spot demand

A firm trend in base metals in the global market also helped prices

Nickel prices were up by 0.94% to Rs 743.80 per kg in futures trade today on pick up in demand from consuming industries in the spot market amid a firm global trend.

At the Multi Commodity Exchange, nickel for delivery in July moved up by Rs 6.90, or 0.94%, to Rs 743.80 per kg in business turnover of 635 lots.

Also, the metal for delivery in August month gained Rs 6.80, or 0.91% to Rs 751 per kg in 23 lots.

Market analysts said besides pick-up in demand from consuming industries, a firm trend in base metals in the global market after data showed China's economy grew more than expected in the second quarter, led to rise in nickel prices at futures trade here.

China is the world's largest consumer of industrial metals.