Nickel futures gain 0.06 on spot demand

Nickel prices rose by 0.06 per cent to Rs 893.40 per kg in futures trade Friday as speculators built up fresh positions as demand from alloy makers picked up amid a firm trend overseas.

At the Multi Commodity Exchange, nickel for delivery in current month was up by 50 paise, or 0.06 per cent, to Rs 893.40 per kg in a business turnover of 8,980 lots.

Analysts said, fresh positions created by traders on firm demand from alloy makers at physical markets amid a firm trend overseas strengthened nickel prices here.