Nickel futures up by 0.15 pc on spot demand

Nickel prices moved up by 0.15 per cent to Rs 721.20 per kg in futures market today as speculators raised their bets amid pick up in spot demand.

At the Multi Commodity Exchange, nickel for delivery in December gained Rs 1.10, or 0.15 per cent, to Rs 721.20 per kg, in a business turnover of 1,334 lots.

The metal for delivery in January rose by 40 paise, or 0.06 per cent, to trade at Rs 726.20 per kg in 17 lots.

Analysts said increased domestic demand from alloy-makers at the physical markets, mainly influenced nickel futures here.