Nickel futures edge up on fresh bets

Nickel prices on Thursday edged up by Rs 6.30 to Rs 1,018 per kg in futures trade as speculators built their positions owing to rising demand from alloy-makers in spot market.

On the Multi Commodity Exchange, nickel contracts for December delivery gained Rs 6.30, or 0.62 per cent, to Rs 1,018 per kg in a business turnover of 3,340 lots.

Similarly, the metal for delivery in January traded up by Rs 8, or 0.79 per cent, at Rs 1,017.20 per kg in a business turnover of 103 lots.

Rising demand in spot market from alloy-makers supported price rise in nickel futures, analysts said.