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Nickel prices moved up by 0.23% to Rs 829.10 per kg in the futures market today as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in copper and other base metals in the global markets supported the upside.
At the Multi Commodity Exchange (MCX), the June contract gained Rs 1.90, or 0.23%, to Rs 829.10 per kg in 719 lots.
The July contract rose by a similar margin to trade at Rs 835.60 per kg in 54 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in base metals overseas on hopes that the growth in the US may boost demand, influenced nickel futures here.
