Uptick in demand lifts nickel futures by 0.05%

Nickel prices edged up by 0.05 per cent to Rs 651.30 per kg in futures trade today as speculators built up fresh positions, driven by pick up in demand from alloy-makers in the spot market.
At the Multi Commodity Exchange, nickel for delivery in April edged higher by 30 paise, or 0.05 per cent to Rs 651.30 per kg in business turnover of 1,428 lots.
Likewise, the metal for delivery in May contracts was trading higher by 20 paise, or 0.03 per cent to Rs 657.70 per kg in 23 lots.
Analysts said speculators created fresh positions due to pick up in demand from alloy-makers at the domestic spot markets, which mainly influenced nickel prices in futures trade.