Nickel futures maintain upward trend on strong demand

Nickel remained firm for the second day and prices rose 0.52 per cent to Rs 863.40 per kg in futures trading today as participants raised bets, taking positive cues from spot market on strong demand.
At the Multi Commodity Exchange, nickel for delivery in February month rose by Rs 4.50, or 0.52 per cent, to Rs 863.40 per kg in business turnover of 560 lots.
On similar lines, the metal for delivery in March contracts gained Rs 3.10, or 0.36 per cent, to Rs 866 per kg in 3 lots.
Analysts said widening of positions by participants on the back of strong demand from alloy-makers in the physical market mainly kept nickel prices higher.