Nickel futures up 1.53% on firm spot demand

Nickel prices rose by 1.53 per cent to Rs 821 per kg in futures market today after a firm trend in spot markets on increased demand from alloy makers.

At the Multi Commodity Exchange, nickel for delivery in February gained 1.53 per cent to Rs 821 per kg in a business turnover of 42 lots.

The metal for delivery in January rose 1.52 per cent to Rs 815.90 per kg in 1,121 lots.

Analysts said raising of bets by participants following increased domestic demand from alloy makers and other consuming industries supported the uptrend in nickel futures.