Nickel futures rise on firm spot cues

Nickel prices went up by 0.53 per cent to Rs 1,122 per kg in futures trade on Wednesday as speculators raised their bets on spot demand.

On the Multi Commodity Exchange, nickel for delivery in September gained Rs 5.90, or 0.53 per cent, to Rs 1,122 per kg in a business turnover of 3,870 lots.

Increase in domestic demand from alloy-makers and firmness in base metals at the spot market mainly influenced nickel prices here, analysts said.