Nickel prices edged 0.25 per cent higher to Rs 805 per kg in futures trade today as speculators built up fresh positions amid pick up in demand in the spot market.
At the Multi Commodity Exchange, nickel for delivery in February edged Rs 2, or 0.25 per cent, higher to Rs 805 per kg in a business turnover of 4 lots.
Likewise, the metal for delivery in January contracts was trading higher by Rs 1.80, or 0.23 per cent, at Rs 800 per kg in 925 lots.
Analysts said fresh positions created by traders after pick up in demand from alloy-makers in the domestic spot market led to the rise in prices.
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