Nickel futures gain on firm spot demand

Nickel prices rose by 0.51 per cent to Rs 1,335.80 per kg in futures trade on Monday as speculators built fresh positions on a rising demand from alloy makers in spot market.

On the Multi Commodity Exchange, nickel contracts for the February delivery gained Rs 6.80, or 0.51 per cent, to Rs 1,335.80 per kg in a business turnover of 2,097 lots.

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