Nickel futures gain 1.8 pc on spot demand

Nickel prices shot up 1.8 per cent to Rs 919.80 per kg in futures trade Monday as speculators built up fresh positions as demand from alloy makers picked up amid a firm trend overseas.

At the Multi Commodity Exchange, nickel for delivery in May was trading higher by Rs 16.30, or 1.8 per cent, at Rs 919.80 per kg in a business turnover of 8,557 lots.

Analysts said fresh positions created by traders on firm demand from alloy makers at physical markets amid a firm trend overseas strengthened nickel prices in futures trade here.