Nickel futures rise on firm spot demand

New Delhi: Nickel prices on Friday rose by 2.27 per cent to Rs 1,094.70 per kg in futures trade as speculators built fresh positions on rising demand from alloy makers in spot market. On the Multi Commodity Exchange, nickel contracts for October delivery gained Rs 24.30, or 2.27 per cent, to Rs 1,094.70 per kg in a business turnover of 1,863 lots.

Rise in demand in spot market from alloy makers mainly supported the price rise in nickel futures, analysts said.