Nickel futures gain 0.68 pc on spot demand

Nickel prices on Tuesday gained 0.68 per cent to Rs 899.60 per kg in futures trade as speculators built positions on rising demand from alloy-makers at spot market.

On the Multi Commodity Exchange, nickel contracts for March delivery gained Rs 6.10, or 0.68 per cent, to Rs 899.60 per kg in a business turnover of 4,408 lots.

Similarly, the metal for April delivery traded higher by Rs 6.60, or 0.74 per cent, at Rs 893.50 per kg in a business turnover of 133 lots.

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