 "Nickel up by 0.6% on spot demand")
Amid pick-up in demand from alloy-makers at domestic spot markets and a firming trend in base metals overseas, nickel prices edged higher 0.56% to Rs 593.70 per kg in futures trade today as speculators raised their bets.
At the Multi Commodity Exchange, nickel for delivery in current month was trading higher by Rs 3.30, or 0.56%, to Rs 593.70 per kg in a business turnover of 660 lots.
The metal for delivery in June rose by Rs 3.30 or 0.55% to trade at Rs 600.30 per kg in 26 lots.
Analysts attributed the rise in nickel prices in futures trade to fresh buying by participants due to pick-up in demand from alloy-makers at the spot market and a firming trend at the London Metal Exchange.
At the Multi Commodity Exchange, nickel for delivery in current month was trading higher by Rs 3.30, or 0.56%, to Rs 593.70 per kg in a business turnover of 660 lots.
The metal for delivery in June rose by Rs 3.30 or 0.55% to trade at Rs 600.30 per kg in 26 lots.
Analysts attributed the rise in nickel prices in futures trade to fresh buying by participants due to pick-up in demand from alloy-makers at the spot market and a firming trend at the London Metal Exchange.