Nickel up 0.1% on spot demand

Metal for delivery in February traded higher by 0.09%

Supported by firm demand from alloy-makers at domestic spot markets, nickel futures edged higher by 0.10% to Rs 964.40 per kg today.

At the Multi Commodity Exchange, nickel for delivery in January was up by Re 1, or 0.10% to Rs 964.40 per kg, with a business turnover of 196 lots.

Metal for delivery in February traded higher by 10 paise, or 0.09%, to Rs 971 per kg, with a turnover of three lots.

Marketmen attributed the rise in nickel prices at futures trade to a firm demand from consuming industries especially alloy-makers and gains at the London Metal Exchange.