Nickel futures up 0.18 pc on firm demand, global cues

Nickel prices moved up by 0.18 per cent to Rs 880.90 per kg in futures market today as speculators enlarged positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend copper and other base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in December gained Rs 1.60, or 0.180 per cent, to Rs 880.90 per kg in business turnover of 216 lots.
In a similar fashion, the metal for delivery in January next year rose by Rs 1.50, or 0.16 per cent, to Rs 889.80 per kg in 28 lots.

Market analysts said apart from increased domestic demand from alloy-makers, firmness in copper and other base metals at the London Metal Exchange on the back of strong US economic data, also influenced nickel futures here.