Nickel rises 0.6% on spot demand

Nickel prices rose by Rs 5.70 to Rs 966 per kg in futures trading today due to increased demand from alloy-makers in the spot market.

At the Multi Commodity Exchange, nickel for delivery in April rose by Rs 5.70, or 0.59%, to Rs 966 per kg, with a business turnover of 335 lots.

March nickel traded higher by Rs 5.50, or 0.58%, to Rs 955 per kg, with an open interest of 5,975 lots.

Analysts said increased demand from alloy-makers in the spot market helped nickel futures prices to rise.