Buoyed by pick up in demand from consuming industries at the domestic spot markets, nickel prices were notably higher by 3.51 per cent to Rs 722.50 per kg in futures trade today.
At the Multi Commodity Exchange, nickel for delivery in current month moved up by Rs 24.50, or 3.51 per cent, to Rs 722.50 per kg, in a business turnover of 3,827 lots.
Metal for delivery in December too traded higher by Rs 24.40 or 3.47 per cent to trade at Rs 727.60 per kg in 72 lots.
Analysts said pick up in demand alloy-makers in the spot market, triggering widening of positions by participants, mainly attributed the rise in nickel prices at futures trade.
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