Nickel futures up 0.13% on spot demand

Nickel futures traded 0.13 per cent higher at Rs 863.90 per kg on Monday after traders raised positions amid positive trend at the spot market.

On the Multi Commodity Exchange, nickel for delivery in the current month contracts rose Rs 1.10, or 0.13 per cent, to Rs 863.90 per kg in a 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.