Nickel prices on Tuesday edged up by Rs 1.20 to Rs 1,062.90 per kg in futures trade as speculators built their positions owing to rising demand from alloy-makers at spot market.
On the Multi Commodity Exchange, nickel contracts for December delivery gained Rs 1.20, or 0.10 per cent, to Rs 1,062.90 per kg in a business turnover of 2,010 lots.
Similarly, the metal for delivery in January traded up by Rs 1.20 , or 0.11 per cent, at Rs 1,059.70 per kg in a business turnover of 8 lots.
Rising demand in spot market from alloy-makers supported price rise in nickel futures, analysts said.
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