Nickel futures rise 0.15 per cent on rising demand, global cues

NEW DELHI: Supported by rising demand from alloy-makers and firming trend overseas, nickel prices moved up by 0.15 per cent to Rs 1,150.30 per kg in futures trading on Monday as speculators enlarged positions.

At the Multi Commodity Exchange, nickel for delivery in July rose by Rs 1.70, or 0.15 per cent, to Rs 1,150.30 per kg in business turnover of 335 lots. Similarly, the metal for delivery in August contract edged up by Rs 1.30, or 0.11 per cent, to Rs 1,154 per kg in 22 lots.

Analysts attributed the rise in nickel futures to a firm trend at spot market on increased demand from alloy-makers and metal's strength at the London Metal Exchange, capped the gains.