Nickel up 0.2% on spot demand

Market analysts said speculators enlarged their positions after pick up in demand from alloy-makers led to rise in nickel prices

Nickel prices gained 0.25% to Rs 855.30 per kg in futures trade today, as speculators enlarged their positions, driven by pick up in demand from alloy-makers in the spot market.

At the Multi Commodity Exchange, nickel for delivery in October rose by Rs 2.10, or 0.25%, to Rs 855.30 per kg in business turnover of 834 lots.

Likewise, the metal for delivery in November gained Rs 2, or 0.23%, to Rs 864 per kg in 25 lots.

Market analysts said speculators enlarged their positions after pick up in demand from alloy-makers mainly led to rise in nickel prices at futures trade.