Uptick in demand lifts nickel futures by 0.83%

Nickel prices were up by 0.83 per cent to Rs 680.20 per kg in futures trading today as participants widened their bets, driven by pick up in demand in the domestic spot market.

At the Multi Commodity Exchange, nickel for delivery in February went up by Rs 5.60, or 0.83 per cent to Rs 680.20 per kg in business turnover of 727 lots.

Analysts attributed rise in nickel futures to increasing of positions by traders following upsurge in demand from alloy-makers in the spot market.