Nickel futures rise 0.98% on pick up in demand

Nickel prices were up by 0.98 per cent to Rs 916.10 per kg in futures trade today after speculators enlarged their positions, tracking a firm trend at spot market on rising demand from alloy-makers.
At the Multi Commodity Exchange, nickel for delivery in May month rose Rs 8.90, or 0.98 per cent to Rs 916.10 per kg in business turnover of 29,331 lots.
Also, the metal for delivery in June contracts traded higher by Rs 8.80, or 0.96 per cent to Rs 923.00 per kg in 660 lots.
Analysts attributed the rise in nickel futures to pick up in demand from alloy-makers in the spot market.