Spot demand, global cues lift nickel futures, up 1.68 pc

Supported by rising demand from alloy-makers in domestic spot markets and a firming trend overseas, nickel prices moved up by 1.68 per cent to Rs 779.80 per kg in futures trade today.
Nickel for delivery in November moved up by Rs 12.90 or 1.68 per cent to Rs 779.80 per kg, in a business turnover of 846 lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in December traded higher by Rs 12.60 or 1.63 per cent to Rs 785 per kg in 21 lots.
Analysts attributed the rise in nickel prices at futures trade to rising demand from alloy-makers in the spot market and a better trend in the base metals pack at the London Metal Exchange (LME).