Nickel prices went up by 0.79 per cent to Rs 702 per kg in futures trade today as speculators widened positions, driven by pick-up in demand at the domestic spot markets and a firm trend overseas.
In futures trading at the Multi Commodity Exchange, nickel for delivery in November was trading higher by Rs 5.50, or 0.79 per cent, to Rs 702 per kg in a business turnover of 13 lots.
Similarly, the metal for delivery in October was trading higher by Rs 5.20, or 0.75 per cent, to Rs 695.50 per kg in 13 lots.
Analysts said apart from rising demand from alloy-makers at domestic spot markets, a better trend in select base metals at the London Metal Exchange (LME) mainly supported the upside in nickel prices at futures trade here.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)