Supported by pick up in demand in the domestic spot market, nickel prices traded higher by 0.68 per cent at Rs 900.40 per kg in futures market today as speculators built up fresh positions.
At the Multi Commodity Exchange, nickel for delivery in February rose by Rs 6.10, or 0.68 per cent, to Rs 900.40 per kg in business turnover of 1,811 lots.
Likewise, the metal for delivery in March contracts was trading higher by a similar margin to Rs 904.10 per kg in 149 lots.
Analysts attributed the rise in nickel futures to fresh positions created by traders on the back of upsurge in demand from alloy-makers in the physical market.
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