Supported by strong spot demand from alloy makers and firming trend overseas, nickel continued its upward trend and traded Rs 3.40, or 0.34 per cent, higher to Rs 1,000.20 per kg in futures trade today.
At the Multi Commodity Exchange platform, the metal for delivery in September month contract traded Rs 3.40, or 0.34 per cent higher, to Rs 1,000.20 per kg, with a turnover of 14,126 per kg.
Similarly, nickel for delivery in October-month contract also edged up by Rs 3, or 0.30 per cent, to Rs 1,007.90 per kg, with a turnover of 733 lots.
The rise in nickel futures was mostly attributed to a firming trend at global markets after the US manufacturing expanded at faster pace than estimated and strong domestic demand at the physical markets, analysts said.
