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Buoyed by rising spot demand and a firming trend overseas, nickel futures prices today moved up by 0.47% to Rs 853.60 per kg as speculators enlarged positions.
At the Multi Commodity Exchange, nickel prices for delivery in October gained Rs 4, or 0.47%, to Rs 853.60 per kg in business turnover of 792 lots.
The metal prices for delivery in November contracts also rose by Rs 3.70, or 0.43%, to Rs 862.30 per kg in 33 lots.
Analysts said apart from increased domestic demand from alloy-makers at spot markets, rebound in copper and other base metals at the London Metal Exchange on optimism that US lawmakers will reach a deal to raise the debt limit, easing concern that global growth will slow, influenced nickel futures here.
