Nickel futures gain 0.64% on global cues

Buoyed by a firm trend overseas, nickel prices gained Rs 6.60 to Rs 1,045.80 per kg in futures trade today on increased buying by speculators.

At the Multi Commodity Exchange, nickel for delivery in July rose by Rs 6.60, or 0.64%, to Rs 1,045.80 per kg, with a business turnover of 2,839 lots.

June nickel moved up by Rs 5.40, or 0.52%, to Rs 1,037.50 per kg, with an open interest of 3,385 lots.

Market analysts said apart from a firming trend in global markets, pick-up in demand from alloy makers mainly pushed up nickel futures prices.

Meanwhile, nickel gained 0.7% on the London Metal Exchange.