Uptick in demand lifts Nickle futures by 0.18%

Nickel prices moved up by 0.18 per cent to Rs 667.80 per kg in futures trade today as speculators widened their positions, tracking a firm trend at spot market on pick up in demand from consuming industries.

At the Multi Commodity Exchange, nickel for delivery in October month edged up by Rs 1.20 or 0.18 per cent to Rs 667.80 per kg in business turnover of 12,500 lots.

Likewise, the metal for delivery in November contracts traded higher by Rs 1.10 or 0.16 per cent to Rs 674.00 per kg in 1,958 lots.

Analysts said raising of positions by participants on the back of pick up in demand from alloy-makers at domestic spot markets mainly led to the rise in nickel prices at futures trade.