BS reported that amid increased demand from alloy makers in the spot market, nickel prices moved up by 0.62% to INR 939.40 per kilogram in futures trade.
At the MCX, the June delivery traded higher by INR 5.80 or 0.62% to INR 939.40 per kilogram with a business turnover of 194 lots. The May contract edged higher by INR 5.60 or 0.61% to INR 929.30 per kilogram in a turnover of 2,533 lots.
Analysts said that increased demand from alloy makers in the spot market influenced nickel prices at futures trade here but metal's weakness at the London Metal Exchange restricted gains. Meanwhile, nickel fell 0.2% to USD 16,975 per tonne at the LME.
