Nickel prices moved up by Rs 7.70 to Rs 1,221.30 per kg in futures trade on Wednesday as speculators enlarged their positions driven by firm demand from alloy-makers in the spot market.
On the Multi Commodity Exchange, nickel contracts for September delivery gained Rs 7.70, or 0.63 per cent, to Rs 1,221.30 per kg in a business turnover of 4,474 lots.
Similarly, the metal for delivery in October traded up by Rs 5.40 at Rs 1,220.40 per kg in a business turnover of 527 lots.
Rising demand at spot markets from alloy-makers supported price rise in copper futures, analysts said.
Disclaimer: No Business Standard Journalist was involved in creation of this content