NEW DELHI, May 28: Nickel futures traded a shade higher at Rs 830.70 per kg today, mostly in line with a firming trend overseas, amid covering-up of short positions by speculators.
Besides, increased demand in spot markets from domestic alloy-makers influenced prices.
Nickel for delivery in June gained Rs 1.40, or 0.17 per cent, to Rs 830.70 per kg in a business turnover of 175 lots in futures trading at the Multi Commodity Exchange.
The metal for delivery in May contracts was up 20 paise, or 0.02 per cent, to Rs 823.70 per kg in 582 lots.
Analysts said that apart from increased domestic demand from alloy-makers, short position covering in view of the approaching monthly expiry and a firming trend overseas drove the upside. (PTI)
Follow our WhatsApp channel