Nickel futures up 0.99 pc on spot demand

Supported by rising demand from alloy-makers in domestic spot markets, nickel prices moved up by 0.99 per cent to Rs 828.20 per kg in futures trade today.

Nickel for delivery in current month moved up by Rs 8.10 or 0.99 per cent to Rs 828.20 per kg in a business turnover of 747 lots at the Multi Commodity Exchange.

Similarly, the metal for delivery in December traded higher by Rs 7.70 or 0.93 per cent to Rs 833.60 per kg in 9 lots.

Analysts attributed the rise in nickel prices at futures trade to building up of fresh positions following rising demand from alloy-makers in the spot market.