Nickel futures moved higher on MCX as speculators enlarged positions, supported by rising demand from alloy-makers in the spot market. Furthermore, strong demand from copper and other base metals in overseas market also supported the commodity prices.
The contract for May delivery was trading at Rs 1115.60, up by 0.14% or Rs 1.60 from its previous closing of Rs 1114.00. The open interest of the contract stood at 5325.00 lots.
The contract for June delivery was trading at Rs 1117.70, up by 0.03% or Rs 0.30 from its previous closing of Rs 1117.40. The open interest of the contract stood at 3940.00 lots on MCX.
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