Rise in demand lifts nickel futures by 0.16%

NEW DELHI, Feb 14: Amid pick up in demand in the domestic spot market, nickel prices edged higher by 0.16 per cent to Rs 863.30 per kg in futures market today as speculators built up fresh positions.

At the Multi Commodity Exchange, nickel for delivery in February edged up by Rs 1.40, or 0.16 per cent, to Rs 863.30 per kg in business turnover of 2,980 lots.

Similarly, the metal for delivery in March contracts was trading higher by 90 paise, or 0.10 per cent, to Rs 866.80 per kg in 51 lots.

Analysts said fresh positions created by participants on back of a rise in demand from alloy-makers in the physical market helped nickel prices to trade higher in futures trade. (PTI)