Nickel up 0.3% as demand picks up

Nickel prices rose by 0.37% to Rs 879.70 per kg in futures trade today as speculators enlarged their positions, tracking a firm spot market trend on pick up in demand from alloy-makers.

At the Multi Commodity Exchange, nickel for delivery in January gained Rs 3.20, or 0.37%, to Rs 879.70 per kg in business turnover of 13 lots.

Similarly, the metal for delivery in December moved up by Rs 2.60, or 0.30%, to Rs 870.50 per kg in 506 lots.

Analysts said speculators enlarged their positions, tracking a firming trend in spot market on pick up in demand from alloy-makers mainly led to rise in nickel prices at futures trade.