Nickel futures rise on firm spot demand

NEW DELHI: Nickel prices were up 0.59 per cent to Rs 1,492.80 per kg in the futures trade on Monday as speculators built up fresh positions on rising demand from alloy makers in spot markets.

On the Multi Commodity Exchange, nickel contracts for the August delivery gained Rs 8.70, or 0.59 per cent, to Rs 1,492.80 per kg in a business turnover of 2,162 lots.

Analysts said demand from alloy makers in spot markets mainly supported the nickel futures.