Nickel futures rise on firm spot demand

NEW DELHI: Nickel prices were up 0.42 per cent to Rs 1,396.20 per kg in the futures trade on Tuesday, as speculators built up fresh positions on rising demand from alloy makers in the spot market.

On the Multi Commodity Exchange, nickel contracts for the July delivery gained Rs 5.80, or 0.42 per cent, to Rs 1,396.20 per kg in a business turnover of 1,687 lots.

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