Spot demand lifts nickel futures by 0.27 pc

Supported by rising demand from alloy-makers in domestic spot markets, nickel prices moved up by 0.27 per cent to Rs 776 per kg in futures trade today as participants enlarged their bets.

Nickel for delivery in November moved up by Rs 2.10 or 0.27 per cent to Rs 776 per kg, in a business turnover of 580 lots at the Multi Commodity Exchange.

The metal for delivery in December too rose by a similar margin to trade at Rs 780.60 per kg in 47 lots.

Analysts attributed the rise in nickel prices at futures trade to rising demand from alloy makers in the spot market.