Nickel futures up 1.21 pc on spot demand

Nickel prices went up 1.21 per cent to Rs 957.30 per kg in futures trade Tuesday as speculators raised their bets amid a firm trend overseas and higher spot demand.

On the Multi Commodity Exchange (MCX), nickel contracts for July delivery gained Rs 11.40, or 1.21 per cent, to Rs 957.30 per kg in a business turnover of 15,092 lots.

Increase in domestic demand from alloy-makers and firmness in base metals overseas influenced nickel prices at futures trade here, analysts said.