Nickel futures up on spot demand

Supported by good demand at the spot markets, nickel futures prices rose by 0.24 per cent to Rs 1,084.50 per kg today.

At the Multi Commodity Exchange counter, nickel for January delivery gained by Rs 2.60, or 0.24 per cent to Rs 1,084.50 per kg, with a business turnover of 126 lots.

Similarly, the contract for December delivery rose by Rs 1.30, or 0.12 per cent to Rs 1,073.90 per kg, with an open interest of 1,505 lots.

Marketmen said pick up in demand at domestic markets from alloy makers and overnight gains at the London Metal Exchange, helped nickel futures to trade higher.