Nickel marginally up on spot demand

August contract rises 0.12%

Amid a pick up in demand from alloy-makers in the domestic spot market, nickel prices rose by 0.12% in futures trade today.

At the Multi Commodity Exchange, nickel for delivery in August traded higher by Rs 1, or 0.12%, to Rs 867.50 per kg, with a business turnover of 1,276 lots.

September nickel edged higher by a similar margin to Rs 878.50 per kg in 109 lots.

Marketmen said increased demand at the domestic spot markets from alloy-makers helped nickel futures to trade higher.