Amid pick-up in demand from alloy-makers in domestic spot markets and positive global cues, nickel prices went up higher by 0.60 per cent to Rs 912 per kg in futures trading Wednesday as participants increased their bets.
At the Multi Commodity Exchange, nickel for delivery in current month rose by Rs 5.40, or 0.60 per cent, to Rs 912 per kg in a business turnover of 841 lots.
Market analysts said expanding of positions by traders following hardening of demand from alloy makers in the spot market was instrumental in rise in nickel prices.
Besides, a firm trend in the base metals pack in global markets too supported the upside in nickel prices here, they said.
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