Nickel futures edge up by 0.08% on spot demand

Nickel prices traded marginally higher by 0.08 per cent to Rs 947 per kg in futures trade today as speculators enlargened their positions amid pick up in demand at domestic spot market.

At the Multi Commodity Exchange, nickel for August edged up by 80 paise, or 0.08 per cent, to Rs 947 per kg in business turnover of 5,212 lots.

On similar lines, the metal for delivery in September was up by 30 paise, or 0.03 per cent, to Rs 951.20 per kg in 137 lots.

Analysts said fresh positions created by participants due to pick up in demand from alloy-makers in the physical markets mainly influenced nickel prices at futures trade.