Nickel futures up by Rs 6 on global cues, spot demand

Nickel prices rose by Rs 6 to Rs 741.20 per kg in futures market today as speculators raised their bets amid a firming trend overseas and spot demand.
At the Multi Commodity Exchange, nickel for delivery in December gained Rs 6, or 0.82 per cent, to Rs 741.20 per kg, in a business turnover of 720 lots.
The metal for delivery in current month rose by Rs 5.20, or 0.71 per cent, to trade at Rs 736.80 per kg in 3,470 lots.
Analysts said apart from increased domestic demand from alloy-makers, firmness in the base metals pack at the London Metal Exchange (LME), influenced nickel prices at futures trade.

Globally, nickel for delivery in three months traded higher at USD 11,415 per tonne at the LME.