Nickel up on global trend, spot demand

The December delivery traded higher by Rs 1.80, or 0.2%, at Rs 895 per kg

Nickel futures traded 0.23% higher at Rs 886 per kg in futures market today after participants enlarged positions, driven by positive cues from overseas markets, and pick-up in domestic demand.

At the Multi Commodity Exchange, November nickel gained Rs 2, or 0.23%, to Rs 886 per kg, with a business turnover of 2,512 lots.

The December delivery traded higher by Rs 1.80, or 0.20%, at Rs 895 per kg, with a turnover of 308 lots.

Marketmen said besides pick-up in demand from alloy- makers in the domestic spot markets, a firming trend in copper and other base metals overseas, supported the upside in nickel prices at futures trade here.