Spot demand lifts nickel futures 0.56%

Nickel prices went up by 0.56 per cent to Rs 694.80 per kg in futures trade today as speculators raised their bets, driven by a firming trend at the domestic spot markets on pick-up in demand.
In futures trading at the Multi Commodity Exchange, nickel for delivery in current month spurted Rs 3.90, or 0.56 per cent, to Rs 694.80 per kg, in a business turnover of 985 lots.
The metal for delivery in December was trading higher by Rs 3.40, or 0.49 per cent, to Rs 700 per kg in 22 lots.
Analysts said a firming trend at the domestic spot markets following increased demand from alloy-makers mainly pushed up nickel prices at futures trade here.