Nickel moves up 0.2% on global cues

Prices rose as speculators created fresh positions

Nickel prices moved up by Rs 2 to Rs 849.60 per kg in futures trading today as speculators created fresh positions, driven by a firm global trend.

At the Multi Commodity Exchange (MCX), the July contract rose Rs 2, or 0.24%, to Rs 849.60 per kg in 20 lots.

The June contract traded higher by Rs 1.70, or 0.20%, to Rs 841.80 per kg in 2,352 lots.

Market analysts said speculators created fresh positions in tandem with a firm global trend mainly led to rise in nickel prices at futures trade.