Nickel up by 0.4% on spot demand

Nickel prices went up by 0.41% to Rs 660.90 per kg in futures market today after speculators widened their positions, driven by a firming trend at the spot market on pick-up in demand.

In futures trading at Multi Commodity Exchange, nickel for delivery in the current month gained Rs 2.20, or 0.41%, to Rs 660.90 per kg in 1,290 lots.

Similarly, the metal for delivery in October was trading higher by Rs 2.60, or 0.39%, to Rs 667.80 per kg in 203 lots.

Analysts said rising demand from alloy-makers at the domestic spot markets and metal's strength overseas mainly pushed up nickel prices in futures trade.