Nickel futures rise on firm spot demand

Nickel prices were up 1.17 percent to Rs 1,369.50 per kg in the futures trade on Wednesday, 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 15.90, or 1.17 percent, to Rs 1,369.50 per kg in a business turnover of 2,510 lots.

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