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Nickel prices moved up by 0.67 per cent to Rs 1,057.40 per kg in futures trade today as speculators enlarged their positions tracking a firming trend at the London Metal Exchange.
In addition, better trend at the spot markets also supported the upside in nickel futures prices here.
At the Multi Commodity Exchange, nickel for delivery in August traded Rs 7 or 0.67 per cent higher at Rs 1,057.40 per kg, with a business turnover of 110 lots.
The metal for delivery in July gained Rs 7 or 0.65 per cent to Rs 1,048.50 per kg, with a business volume of 1,494 lots.
Meanwhile, nickel jumped 0.5 per cent to $23,485 a tonne at the London Metal Exchange (LME).
Market analysts said a firming trend in copper and other base metals at the LME along with pick up in demand from alloy makers at the domestic spot markets influenced nickel futures prices here.
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