Nickel futures edged higher on MCX as speculators built up fresh positions on the back of improved demand from alloy-makers and other consuming industries at the domestic spot market. Further, a firming trend in base metals at the London Metal Exchange (LME) also added support to nickel prices' uptrend.
The contract for September delivery was trading at Rs 662.50, up by 1.67% or Rs 10.90 from its previous closing of Rs 651.60. The open interest of the contract stood at 22368.00 lots.
The contract for October delivery was trading at Rs 668.10, up by 1.60% or Rs 10.50 from its previous closing of Rs 657.60. The open interest of the contract stood at 4194.00 lots on MCX.