Nickel futures up 0.55 pc on firm spot demand

Nickel prices rose 0.55 per cent to Rs 714 per kg in futures market today after speculators widened their bets amid a firm trend at the spot market.
There was increased demand from alloy makers even as base metals weakened overseas, analysts said.
At the Multi Commodity Exchange, nickel for delivery in December gained Rs 3.90, or 0.55 per cent, to Rs 714 per kg in a business turnover of 874 lots.
In a similar manner, the metal for delivery in January was trading higher by Rs 3.0, or 0.50 per cent, to Rs 719 per kg in 4 lots.

Analysts said raising of bets by participants following pick-up in demand at the domestic spot markets from alloy- makers supported the uptrend in nickel futures here.