Spot demand lifts nickel futures by 0.08%

Nickel prices were marginally up by 0.08 per cent to Rs 610.90 per kg in futures trade today as speculators raised their bets, driven by rising demand at the domestic spot markets.

In futures trading at the Multi Commodity Exchange, nickel for delivery in July rose by 50 paise, or 0.08 per cent, to Rs 610.90 per kg, in a business turnover of 1,124 lots.

The metal for delivery in August was trading higher by 20 paise, or 0.03 per cent, to Rs 615.50 per kg in 354 lots.

Analysts said the rise in nickel prices at futures trade was mostly attributed to strong demand from alloy-makers at the domestic spot markets.