Nickel futures climb 1.22%

Nickel prices were up 1.22 per cent at Rs 687.90 per kg in futures trade today on pick-up in demand from consuming industries at the spot market.

At the Multi Commodity Exchange, nickel for delivery this month moved up by Rs 8.30, or 1.22 per cent, to Rs 687.90 per kg, in a business turnover of 1,326 lots.

Also, the metal for delivery in October gained Rs 8.30, or 1.21 per cent, to Rs 694.40 per kg in 73 lots.

Marketmen said besides pick-up in domestic demand from alloy-makers, covering-up of short positions by speculators, led to the rise in nickel prices at futures trade.