Nickel futures rise 0.92 pc on firm spot demand

Nickel prices rose 0.92 per cent at Rs 770.40 per kg in futures market today after speculators widened bets amid industrial metals rising in the domestic spot markets on increased demand from alloy makers.
At the Multi Commodity Exchange, nickel for delivery this month gained Rs 7, or 0.92 per cent, to Rs 770.40 per kg in a business turnover of 750 lots.
In a similar manner, the metal for delivery in January was trading higher by Rs 6.70, or 0.87 per cent, to Rs 775.10 per kg in 37 lots.
Analysts attributed rise in nickel prices at futures trade to widening of positions by participants, driven by strong demand from alloy-makers and other consuming industries in the spot market.