 "Nickel up 0.8% on spot demand")
Supported by rising demand from alloy-makers in domestic spot markets, nickel prices moved up by 0.79% to Rs 575.10 per kg in futures trade today.
In futures trading, nickel for delivery in June moved up by Rs 4.50 or 0.79% to Rs 575.10 per kg, in a business turnover of 233 lots at the Multi Commodity Exchange.
On similar lines, the metal for delivery in May contracts traded higher by Rs 4.40 or 0.78% to Rs 568.70 per kg in 2,727 lots.
Market analysts attributed the rise in nickel prices at futures trade to enlarging of positions by speculators, driven by rising demand from alloy-makers in the spot market.
However, losses in base metals pack at the London Metal Exchange (LME) amid signs that the US Federal Reserve could raise interest rates as early as next month, capped the gains, they said.
