Nickel futures prices moved up by 0.30% to Rs 949.20 per kg today, as speculators enlarged their positions amid pick-up in spot demand from alloy-makers, even as the metal weakened at the London Metal Exchange (LME).
Traders said the strength in nickel futures prices was mostly supported by a pick-up in demand at the spot markets from alloy-makers but metal's weakness at the LME, restricted gains.
At the Multi Commodity Exchange, nickel for delivery in December rose by Rs 2.80, or 0.30%, to Rs 949.20 per kg, with a business turnover of 2,583 lots.
Similarly, the metal for delivery in January was trading higher by Rs 2.60, or 0.27%, at Rs 957.20 per kg, with a trading volume of 28 lots.
Meanwhile, nickel dropped 0.9% to $18,260 a tonne at the LME.
