Nickel prices rose by Rs 10.70 to Rs 1,218.30 per kg in futures market today, mostly on the back of strong demand from alloy-makers at the spot market, even as the metal weakened at the London Metal Exchange.
At the Multi Commodity Exchange, nickel for delivery in July rose by Rs 10.70, or 0.97% to Rs 1,218.30 per kg, with an open interest of a single lot.
In a similar fashion, the metal for delivery in May moved up by Rs 4.90, or 0.41% to Rs 1,197.90 per kg, with a business turnover of two lots.
Market analysts said a firming trend at the spot markets following pick-up in demand from alloy markets, and covering-up of pending positions, helped nickel futures to trade higher.
However, losses at the London Metal Exchange restricted the gains, they added.
