NEW DELHI: Nickel futures prices on Tuesday moved up by Rs 6.20 to Rs 873.30 per kg as speculators created fresh positions amid a firming trend in the base metals pack in the global market.
At the Multi Commodity Exchange, nickel for delivery in June rose Rs 6.20, or 0.70 per cent, to Rs 873.30 per kg in business turnover of 1,964 lots.
Similarly, the metal for delivery in July traded higher by Rs 5.40, or 0.64 per cent, to Rs 878.40 per kg in 113 lots.
Market analysts said speculators created fresh positions in tandem with a firm trend in base metals overseas, mainly led to rise in nickel prices at futures trade.
Besides, increased demand at spot markets from alloy- makers also influenced prices, they said.
