Nickel futures rise 0.28 pc on pick-up in demand

Nickel prices edged up by 0.28 per cent to Rs 690.20 per kg in futures trade today as speculators widened positions, supported by pick-up in demand at the domestic spot markets.
In futures trading at the Multi Commodity Exchange, nickel for delivery this month was trading up by Rs 1.90, or 0.28 per cent, to Rs 690.20 per kg, in a business turnover of 786 lots.
Similarly, the metal for delivery in November rose by Rs 1.60, or 0.23 per cent, to Rs 696.10 per kg in 14 lots.
Analysts said raising of bets by participants following an uptick in demand from alloy-makers at domestic spot markets, mainly supported the upside in nickel prices at futures trade.