Nickel futures up on spot demand

NEW DELHI: Supported by a firming trend at spot market on pick up in demand from alloy makers, nickel prices moved up by Rs 3.20 to Rs 1,064.10 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in the current month July rose by Rs 3.20, or 0.30 per cent, to Rs 1,064.10 per kg, with a business turnover of 2,212 lots.

Similarly, the metal for delivery in August gained Rs 3, or 0.28 per cent, to Rs 1,072 per kg, with an open interest of 387 lots.

Market analysts said a firming trend at the spot market on pick-up in demand from alloy makers mainly led to the rise in nickel futures prices.