Spot demand lifts nickel futures 0.17%

Nickel prices went up by 0.17 per cent to Rs 581.40 per kg in futures trade today as speculators raised their bets, driven by a firming trend at the domestic spot market on pick-up in demand.
In futures trading at Multi Commodity Exchange, nickel for delivery in July was trading higher by Re 1, or 0.17 per cent, to Rs 581.40 per kg, in a business turnover of 13 lots.
The metal for delivery in the current month rose by 80 paise, or 0.14 per cent, to Rs 575.50 per kg in 423 lots.
Analysts said a firming trend in base metals at the physical markets on the back of increased demand from alloy- makers helped nickel trade higher.