Nickel goes up 0.33% in futures trade on spot demand

Nickel futures traded higher 0.33 per cent at Rs 907.20 per kg Wednesday after participants built-up fresh positions amid increased demand from alloy-makers.

At the Multi Commodity Exchange, nickel for delivery in March was trading higher by Rs 3, or 0.33 per cent, to Rs 907.20 per kg in a business turnover 1,372 lots.

Market analysts attributed the rise in nickel prices at futures trade to increased demand from alloy-makers at the domestic physical market but a weak trend in base metals at the London Metal Exchange (LME) capped the gains.