Nickel futures up 0.57% on firm domestic demand

Nickel prices rose by 0.57 per cent to Rs 615.50 per kg in futures market today as speculators enlarged bets tracking a firming trend overseas amid rising demand from alloy makers in the spot market.
Nickel for delivery in April gained Rs 3.50, or 0.57 per cent, to Rs 615.50 per kg, in a business turnover of 52 lots at the Multi Commodity Exchange.
In a similar manner, the metal for delivery this month rose Rs 3.40, or 0.56 per cent, to Rs 609.50 per kg in 968 lots.
Analysts said besides increased domestic demand from alloy makers and other consuming industries, a firming trend in the base metal pack at the London Metal Exchange influenced nickel futures.