Nickel futures edge higher 0.20% as demand picks up

Nickel futures traded marginally higher by 0.20 per cent to Rs 691.70 per kg today as participants built up fresh positions, driven by pick up in demand in the spot market.
At the Multi Commodity Exchange, nickel for delivery in September rose by Rs 1.40, or 0.20 per cent to Rs 691.70 per kg in business turnover of 329 lots.
Likewise, the metal for delivery in August contracts traded higher by Re 1, or 0.15 per cent to Rs 685.10 per kg in 6,563 lots.
Analysts said fresh positions created by traders due to pick up in demand from alloy-makers in the spot market mainly influenced nickel prices at futures trade.