NEW DELHI: Nickel traded higher by Rs 2.60 to Rs 869.60 per kg in futures trading today as speculators enlarged their positions on the back of a rise in demand from alloy-makers in the spot market.
A firming trend in global markets also influenced the nickel prices.
At the Multi Commodity Exchange, nickel for delivery in August rose by Rs 2.60, or 0.30 per cent, to Rs 869.60 per kg, with a business turnover of 5,591 lots.
Likewise, the metal for delivery in September edged up by Rs 2.50, or 0.28 per cent, to Rs 880 per kg in 580 lots.
Analysts said besides increased demand from alloy-makers in the spot market, a firming trend in metals at the London Metal Exchange (LME) mainly led to a rise in nickel futures.
Meanwhile, nickel advanced 0.3 per cent to USD 15,565 a tonne on the London Metal Exchange.
