Nickel futures gain on rising demand

Nickel prices on Monday edged up by Rs 1.80 to Rs 1,047.70 per kg in futures trade as speculators built positions owing to rising demand from alloy-makers in spot market.

On the Multi Commodity Exchange, nickel contracts for December delivery gained Rs 1.80, or 0.17 per cent, to Rs 1,047.70 per kg in a business turnover of 2,377 lots.

However, the metal for delivery in January traded lower by 20 paise, or 0.20 per cent, at Rs 1,044.80 per kg in a business turnover of 13 lots.