Nickel up 0.6% on spot demand

Supported by increased demand from consuming industries at the domestic spot markets, nickel prices traded higher 0.63% to Rs 607.30 per kg in futures trade today.

At the Multi Commodity Exchange, nickel for delivery in July month moved up by Rs 3.80, or 0.63%, to Rs 607.30 per kg in a business turnover of 35 lots.

Likewise, the metal for delivery in June traded higher by Rs 3.20 or 0.54% to Rs 600.40 per kg in 2,071 lots.

Analysts said a pick-up in demand by alloy-makers in the spot market mainly led to the rise in nickel prices at futures trade.