Supported by pick up in demand at domestic spot market, nickel prices traded higher by 0.78 per cent to Rs 1,051.50 per kg in futures trading today as speculators built up fresh positions.
At the Multi Commodity Exchange, nickel for delivery in June month rose by Rs 8.10, or 0.78 per cent to Rs 1,051.50 per kg in business turnover of 1,385 lots.
Similarly, the metal for delivery in July contracts gained Rs 7.70, or 0.73 per cent to Rs 1,055.50 per kg in 29 lots.
Analysts said fresh positions created by participants after pick up in demand from alloy-makers in the physical market mainly led to the rise in nickel prices at futures trade.
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