Nickel prices moved up by 1.15 per cent to Rs 861.30 per kg in futures trade today as participants widened their bets, driven by positive global cues and upsurge in demand at the domestic spot markets.
At the Multi Commodity Exchange, nickel for delivery in January went up by Rs 9.80, or 1.15 per cent to Rs 861.30 per kg in business turnover of 14,544 lots.
Likewise, the metal for delivery in February was trading higher by Rs 9.10, or 1.06 per cent to Rs 863.80 per kg in 9,719 lots.
Analysts attributed the rise in nickel futures to a firm trend overseas amid pick up in demand from alloy-makers in the spot market.
Globally, nickel for delivery in three month was USD 210 higher to USD 13,560 per tonne on the London Metal Exchange.
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