Nickel futures rise 0.44% as demand picks up

Nickel prices gained 0.44 per cent to Rs 908.90 per kg in futures trade today as speculators built up positions, supported by rising demand from alloy- makers in the spot market.

At the Multi Commodity Exchange, nickel for delivery in April moved up by Rs 4, or 0.44 per cent, to Rs 908.90 per kg, in a business turnover of 1,088 lots.

Similarly, the metal for delivery in May traded higher by Rs 3.20, or 0.19 per cent, to Rs 911.50 per kg in a business turnover of 19 lots.

Analysts said speculators increased positions on a firming trend at the domestic spot markets on better demand from consuming industries.