Nickel gains in futures trade on positive global trend

Nickel futures today rose by Rs 2.80, or 0.31 per cent, to Rs 902.80 per kg after its prices strengthened in global markets.

Good demand, particularly from alloy makers at physical markets also supported the upside in nickel prices at futures trade.

At the Multi Commodity Exchange counter, nickel for delivery in August contract moved up by Rs 2.80,or 0.31 per cent, to Rs 902.80 per kg in a turnover
of 1 lot.

Similarly, the metal for delivery in July contract gained Rs 2.40, or 0.30 per cent, to Rs 897 per kg, clocking a turnover of 2 lots.

Analysts said, besides gains at the London Metal Exchange, pick up in demand from domestic alloy makers also influenced the nickel prices at futures market here.