Nickel prices moved up by 0.97 per cent to Rs 592.80 per kg in futures trading today as participants widened their bets, driven by pick up in demand in the spot market amid a firm global cues.
At Multi Commodity Exchange, nickel for delivery in far-month February rose by Rs 5.70, or 0.97 per cent to Rs 592.80 per kg in business turnover of 39 lots.
Likewise, the metal for delivery in January contracts traded higher by Rs 5.60, or 0.96 per cent to Rs 587.10 per kg in 1,253 lots.
Analysts said traders enlarged position on the back of pick up in demand from alloy-makers in the spot market and a better trend in base metals in global markets, helped nickel prices to trade higher at futures trade.
