Nickel futures move higher amid rising spot demand

NEW DELHI: Nickel prices rose by 0.48 per cent to Rs 1,246 per kg in futures trade on Monday as speculators built fresh positions on rising demand from alloy makers in the spot market.

On the Multi Commodity Exchange, nickel contracts for May delivery gained Rs 6, or 0.48 per cent, to Rs 1,246 per kg in a business turnover of 1,187 lots.

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