Supported by rising demand from alloy-makers in domestic spot markets and a firming trend overseas, nickel prices moved up by 0.21 per cent to Rs 533 per kg in futures trade today.
Nickel for delivery in July moved up by Rs 1.40, or 0.21 per cent, to Rs 682.30 per kg, in a business turnover of three lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in August traded higher by Rs 1.10, or 0.16 per cent, to Rs 687.80 per kg in three lots.
Market analysts attributed the rise in nickel prices at futures trade to enlarging of positions by speculators, driven by rising demand from alloy-makers in the spot market and a better trend in metals at the London Metal Exchange.
