Supported by rising demand from alloy-makers in domestic spot markets and a firming trend overseas, nickel prices were higher by 1.33 per cent to Rs 685.50 per kg in futures trade today as traders enlarged positions.
At the Multi Commodity Exchange, nickel for delivery in far-month October moved up by Rs 9, or 1.33 per cent, to Rs 685.50 per kg in business turnover of 191 lots.
Likewise, the metal for delivery in September contracts traded higher by Rs 8.80, or 1.31 per cent, to Rs 680 per kg in 12,521 lots.
Marketmen said widening of positions by participants on the back of rising demand from alloy-maker in the spot market and a firm trend overseas mainly led to rise in nickel prices at futures trade.
Globally, nickel for delivery in three month gained 1 per cent at the London Metal Exchange.
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