Nickel futures up on spot demand

Nickel prices went up 1.3 per cent to Rs 1,181.20 per kg in the futures trade on Friday as speculators raised their bets on spot demand.

On the Multi Commodity Exchange, nickel for delivery in September gained Rs 15.20, or 1.3 per cent, to Rs 1,181.20 per kg in a business turnover of 12,426 lots.

Increase in domestic demand from alloy makers and firmness in base metals at the spot market mainly influenced nickel prices here, analysts said.