Nickel up 0.5% on global cues

Higher demand from alloy- makers in spot market also drives prices up

Nickel futures prices today rose by Rs 5 to Rs 927.40 per kg amid increased demand from alloy- makers in the spot market and a firming global trend, .

At the Multi Commodity Exchange, nickel for delivery in May rose by Rs 5, or 0.54%, to Rs 927.40 per kg in business turnover of 7,534 lots.

June nickel traded higher by Rs 4.60, or 0.49%, to Rs 937.80 per kg in 655 lots.

Analysts said increased demand from alloy-makers in the spot market amid a firming global trend mainly led to a rise in nickel prices at futures market.

Meanwhile, nickel advanced by 1% to $16,995 a tonne on the London Metal Exchange.