Nickel futures rise on spot demand

Nickel prices were up 0.88 per cent to Rs 1,284.40 per kg in futures trade on Tuesday as investors raised their bets on spot demand. On the Multi Commodity Exchange, nickel for delivery in September surged by Rs 11.20, or 0.88 per cent, to Rs 1,284.40 per kg in a business turnover of 15,481 lots.

Similarly, delivery of nickel for October rose by Rs 4.40, or 0.34 per cent, to Rs 1,280.50 per kg in a business turnover of 663 lots. Increase in domestic demand from alloy makers at the spot market mainly influenced nickel prices here, analysts said.