Nickel futures up 1.44 pc on robust demand

Nickel prices on Tuesday edged up by Rs 13.60 to Rs 956.70 per kg in futures trade as speculators built positions on rising demand from alloy-makers in spot market.

On the Multi Commodity Exchange, nickel contracts for February delivery gained Rs 13.60, or 1.44 per cent, to Rs 956.70 per kg in a business turnover of 3,496 lots.

Similarly, the metal for March delivery traded higher by Rs 13, or 1.38 per cent, at Rs 958 per kg in a business turnover of 65 lots.

Rising demand in spot market from alloy-makers mainly supported price rise in nickel futures, analysts said.