Nickel prices rise marginally in futures trade

Nickel prices edged higher by Rs 3.30 or 0.37 per cent to Rs 905.30 per kg in futures market today, mostly buoyed by good demand from alloy-makers at spot markets amid firming trend overseas.

At the Multi Commodity Exchange, nickel for July-month climbed by Rs 3.30 or 0.37 per cent to Rs 905.30 per kg, with a turnover of 22,318 lots.

Similarly, the metal for delivery in August-month also traded higher by Rs 2.90 or 0.32 per cent to Rs 912.50 per kg in a turnover of 2,777 lots.

Market analysts said strong demand from alloy-makers, and overnight gains in base metals in global market mainly influenced nickel prices in futures trade here.