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Nickel prices moved up by 0.32% to Rs 817.60 per kg in futures market today as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers but a weak trend overseas, restricted gains.
At the Multi Commodity Exchange (MCX), the May contract gained Rs 2.60, or 0.32%, to Rs 817.60 per kg in 1,346 lots.
The June contract rose by Rs 2.30, or 0.28%, to Rs 823.90 per kg in 65 lots.
At the London Metal Exchange (LME) nickel traded a shade higher at $14,900 per tonne.
Market analysts said increased domestic demand from alloy-makers mainly influenced nickel prices at futures trade but a weak trend in base metals at the LME after data indicated signs of slowdown in the US economy, limited gains.
