Nickel futures up 0.11% on spot demand

Nickel futures traded 0.11 per cent higher at Rs 914.90 per kg on Wednesday after traders enlarged positions amid pick up spot demand at the domestic markets.

At the Multi Commodity Exchange, nickel for delivery in February rose Re 1, or 0.11 per cent, to Rs 914.90 per kg in business turnover of 1,273 lots.

Market analysts attributed the rise in nickel futures to widening of positions built up by participants following rising demand from alloy-makers in the physical market.