Supported by strong demand from alloy makers at the domestic market, nickel prices rose by Rs 3.40 to Rs 1,085.70 per kg in futures trade today, even as the metal weakened at the London Metal Exchange (LME).
At the Multi Commodity Exchange counter, nickel for delivery in December rose by Rs 3.40 or 0.31 per cent to Rs 1,085.70 per kg, with a business turnover of 1,387 lots.
The metal for delivery in January also gained Rs 1.90 or 0.17 per cent to Rs 1,097.40 per kg, with a business volume of 780 lots, while delivery in February surged by Rs 1.50, or 0.14 per cent to Rs 1,107.20 per kg, with an open interest of seven lots.
Market analysts said firming trend at the spot market here influenced nickel futures prices, but weakness in metal at the LME, capped the gains.
Meanwhile, nickel fell 0.6 per cent up to $24,101 a tonne on the LME.
