Nickel prices were up by 0.56 per cent to Rs 720.50 per kg in futures trade today on pick up in demand from consuming industries in the spot market amid a firm global trend.
Nickel for delivery in March moved up by Rs 4, or 0.56 per cent, to Rs 720.50 per kg in business turnover of 38 lots at the Multi Commodity Exchange (MCX).
Also, the metal for delivery in current month gained Rs 3.90, or 0.55 per cent to Rs 714.70 per kg in 853 lots.
Market analysts said besides pick-up in demand from consuming industries, particularly alloy-makers, a firm trend in base metals in the global market, led to rise in nickel prices at futures trade here.
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