Nickel rises in futures trade on spot demand

NEW DELHI, June 26:Nickel prices went up by Rs 4.70 to Rs 1,006.70 per kg in futures trade today as speculators raised their bets, driven by rising demand at the domestic spot markets.

In futures trading at the Multi Commodity Exchange, nickel for delivery this month spurted Rs 4.70, or 0.47 per cent, to Rs 1,006.70 per kg, in a business turnover of 599 lots.

The metal for delivery in July was trading higher by Rs 4.10, or 0.41 per cent, to Rs 1,011.50 per kg in 68 lots.

Analysts said the rise in nickel prices at futures trade was mostly due to strong demand from alloy-makers at the domestic spot markets. (PTI)