Buoyed by a firming trend at the London Metal Exchange, nickel prices edged up by 0.72% in futures trade today.
A better trend at the domestic spot markets on the back of pick-up in demand from alloy makers also influenced nickel futures prices.
At the Multi Commodity Exchange, nickel for delivery in July moved up by Rs 7.50, or 0.72%, to Rs 1,045.40 per kg, with a business volume of 91 lots.
Likewise, the metal for delivery in August traded Rs 7.30, or 0.70%, higher at Rs 1,054.50 per kg, with a trade turnover of 1,855 lots.
Market analysts said firmness in nickel and other base metals at the London Metal Exchange, supported by strong US manufacturing data for June and pick-up in demand from alloy-makers at the spot markets, mainly influenced nickel futures prices here.
Meanwhile, nickel climbed by one per cent in early trade on the London Metal Exchange.
