Nickel prices were up by Rs 8.60 to Rs 627.90 per kg in futures market today as speculators raised their bets amid a firming trend overseas and domestic demand.
At the Multi Commodity Exchange, nickel for delivery in May was trading notably higher by Rs 8.60, or 1.39%, to Rs 627.90 per kg, in a business turnover of 152 lots.
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The metal for delivery in April rose by Rs 8, or 1.30%, to trade at Rs 621.20 per kg in 4,199 lots.
Analysts said apart from increased domestic demand from alloy-makers, firmness in the base metals pack at the London Metal Exchange, supported the upside in nickel prices at the futures trade.