Nickel futures gain on firm spot demand

Nickel prices rose 0.61 per cent to Rs 1,305 per kg in the futures trade on Wednesday, as speculators built fresh positions on a rising demand from alloy makers in the spot market.

On the Multi Commodity Exchange, nickel contracts for the January delivery gained Rs 7.90, or 0.61 per cent, to Rs 1,305 per kg in a business turnover of 2,205 lots.

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