Nickel futures rise on firm spot demand

Nickel prices rose 0.75 per cent to Rs 1,230.90 per kg in the futures trade on Friday, as speculators built fresh positions on rising demand from alloy makers in the spot market.

On the Multi Commodity Exchange, nickel contracts for the December delivery gained Rs 9.20, or 0.75 per cent, to Rs 1,230.90 per kg in a business turnover of 2,329 lots.

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