Spot demand lifts nickel futures 0.24%

Nickel prices were up 0.24 per cent at Rs 663.50 per kg in futures trade today as speculators raised their bets, driven by rising demand at the domestic spot markets.
In futures trade at the Multi Commodity Exchange, nickel for delivery in September was up by Rs 1.60 or 0.24 per cent to Rs 663.50 per kg in a business turnover of 1,322 lots.
The metal for delivery in August was trading higher by Rs 1.10 or 0.17 per cent to Rs 656.50 per kg in 1,334 lots.
Analysts said the rise in nickel prices at futures trade was mostly attributed to strong demand from alloy-makers at the domestic spot markets.