Nickel futures rise on spot demand

Nickel prices on Monday edged up by Rs 2 to Rs 1,194.80 per kg in futures trade as speculators built their positions owing to rising demand from alloy-makers in the spot market. On the Multi Commodity Exchange, nickel contracts for November delivery gained Rs 2, or 0.17 percent, to Rs 1,194.80 per kg in a business turnover of 10,694 lots.

Similarly, the metal for delivery in December traded up by 50 paise, or 0.04 percent, at Rs 1,181.90 per kg in a business turnover of 104 lots. Rising demand in spot market from alloy-makers supported price rise in nickel futures, analysts said.