Nickel moves up in futures trade on rising demand

Nickel prices moved up by 0.13 per cent to Rs 852.20 per kg in futures trade today as speculators enlarged their positions driven by rising demand from alloy-makers in the spot market.
At the Multi Commodity Exchange, nickel for delivery in January gained Rs 1.10, or 0.13 per cent, to Rs 852.20 per kg in a business turnover of 1,411 lots.
Similarly, the metal for delivery in February moved up by 90 paise, or 0.10 per cent, to Rs 860.40 per kg in 44 lots.
Analysts said besides rising demand from alloy-makers in the spot market, a firming trend in base metals at the London Metal Exchange influenced nickel prices at futures trade.