Spot demand lifts nickel futures by 0.27%

Nickel prices went up by 0.27 per cent to Rs 587.10 per kg in futures trade today as speculators raised their bets, driven by a firming trend at the domestic spot markets.
In futures trading at the Multi Commodity Exchange, nickel for delivery in July spurted Rs 1.60 or 0.27 per cent to Rs 587.10 per kg in a business turnover of 41 lots.
Similarly, the metal for delivery in June was trading higher by Rs 1.40 or 0.24 per cent to Rs 581.50 per kg in 850 lots.
Analysts said widening of bets by participants largely on the back of increased demand from alloy-makers at domestic markets, mainly influenced nickel futures here.