Nickel up 0.37% on spot demand

Pick up in demand from alloy-makers helps surge

Nickel prices traded higher by Rs 6.60 to Rs 906.70 per kg in futures trading today due to the pick up in demand from alloy-makers in the spot market.

At the Multi Commodity Exchange, nickel for delivery in August rose by Rs 6.60, or 0.37%, to Rs 906.70 per kg, with a business turnover of 3,944 lots.

July nickel traded higher by Rs 1.90, or 0.21%, to Rs 895 per kg in 3,797 lots.

Marketmen said pick up in demand from alloy-makers in the spot market led to the rise in nickel futures.