Nickel futures up by Rs 6.30/ kg on global cues, spot demand

Nickel prices were up by Rs 6.30 at Rs 883.30 per kg in futures market today as speculators enlarged positions amid a firming trend overseas and spot demand.
At the Multi Commodity Exchange, nickel for delivery in May gained Rs 6.30 or 0.75 per cent to Rs 883.30 per kg in a business turnover of 400 lots.
The metal for delivery in June rose was trading Rs 6.10 or 0.69 per cent higher at Rs 890.50 per kg in 2 lots.
Analysts said apart from increased domestic demand from alloy-makers, firmness in base metal in global markets, influenced nickel prices in futures trade here.

In international market, nickel for delivery in three months on the London Metal Exchange gained 0.8 per cent to USD 13,890 a tonne.