Spot demand lifts nickel futures, up 0.55 pc

Supported by rising demand from alloy-makers in domestic spot markets, nickel prices moved up by 0.55 per cent to Rs 662.60 per kg in futures trade today.
Nickel for delivery in September moved up by Rs 3.60 or 0.55 per cent to Rs 662.60 per kg, in a business turnover of 974 lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in October traded higher by Rs 3.50 or 0.53 per cent to Rs 668.40 per kg in 47 lots.
Analysts attributed the rise in nickel prices at futures trade to rising demand from alloy-makers in the spot market but weakness in metal overseas restricted gains.