Robust demand lifts nickel futures by 0.11%

Nickel prices traded marginally higher by 0.11 per cent to Rs 965.90 per kg in futures trade today as participants raised bets, taking positive cues from the spot market on upsurge in demand.

At the Multi Commodity Exchange, nickel for delivery in September rose by Rs 1.10, or 0.11 per cent to Rs 965.90 per kg in business turnover of 25 lots.

Likewise, the metal for delivery in August edged up by 10 paise, or 0.01 per cent to Rs 960.40 per kg in 2,850 lots.

Analysts said widening of positions by traders due to pick up in demand from alloy-makers in the physcal markets, influenced nickel prices in futures trade.