Amid pick-up in demand from alloy-makers at domestic spot markets and firmness in select base metals overseas, nickel prices edged higher by 1.31 per cent to Rs 819.20 per kg in futures trade today as speculators raised their bets.
At the Multi Commodity Exchange, nickel for delivery in current month was trading higher by Rs 10.60, or 1.31 per cent, to Rs 819.20 per kg in a business turnover of 3,083 lots.
Nickel for delivery in December too was trading higher by Rs 9.40, to 1.15 per cent to Rs 823.40 per kg in 68 lots.
Analysts attributed the rise in nickel prices in futures trade to fresh buying by participants due to pick-up in demand from alloy-makers at the spot market, apart from gains in select base metals at the London Metal Exchange.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)