Supported by pick up in demand at domestic spot market, nickel prices rose by 0.47 per cent to Rs 1,037 per kg in futures market today as speculators built up fresh positions.
At the Multi Commodity Exchange, nickel for delivery in June went up by Rs 4.80, or 0.47 per cent, to Rs 1,037 per kg, in business turnover of 1,742 lots.
On similar lines, the metal for delivery in July gained Rs 4.20, or 0.41 per cent,to Rs 1,040.40 per kg, in 57 lots.
Analysts said speculators created fresh positions taking positive cues from spot market following pick-up in demand from alloy-makers, led to the rise in nickel prices at futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content