Nickel futures up 0.84% on spot demand

Nickel futures traded 0.84 per cent higher to Rs 854.70 per kg on Monday after traders raised positions amid pick-up in spot demand.

On the Multi Commodity Exchange, nickel for delivery in June contracts rose Rs 7.10, or 0.84 per cent, to Rs 854.70 per kg in a business turnover of 6,680 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.