NEW DELHI: Amid increased demand from alloy- makers in the spot market, nickel prices rose over 1 per cent to Rs 896.20 per kg in futures trade today.
However, weakness in metal in overseas market, capped the gains here.
At the Multi Commodity Exchange, nickel for delivery in June traded higher by Rs 9.70, or 1.09 per cent, to Rs 896.20 per kg, with a business turnover of 8,773 lots.
Likewise, the metal for delivery in July edged higher by Rs 9.50, or 1.06 per cent, to Rs 905.50 per kg in 472 lots.
Analysts said increased demand from alloy-makers in the spot market mainly supported the upside in nickel futures prices here but weakness in metal at the London Metal Exchange (LME), restricted the gains.
Globally, nickel dropped 0.4 per cent to USD 16,042 a tonne at the LME.
