Pick-up in demand lifts nickel futures

Nickel prices on Thursday rose Rs 3.30 to Rs 1,143.30 per kg in futures market as speculators raised bets driven by pickup in demand from consuming industries in spot market.

On the Multi Commodity Exchange, nickel for delivery in November contracts rose by Rs 3.30, or 0.29 per cent, to Rs 1,143.30 per kg in a business turnover of 5,696 lots.

Market analysts attributed the rise in nickel futures to fresh positions built up by participants due to pickup in demand from alloy-makers in physical market.