Nickel futures rise on firm spot demand

Nickel prices rose 0.53 per cent to Rs 1,260.20 per kg in futures trade on Thursday as speculators built fresh positions on rising demand from alloy makers in spot market.

On the Multi Commodity Exchange, nickel contracts for December delivery gained Rs 6.70, or 0.53 per cent, to Rs 1,260.20 per kg in a business turnover of 2,326 lots.

Rise in demand in spot market from alloy makers mainly supported the price rise in nickel futures, analysts said.