Nickel futures remain up, gain 1.15 pc on rising demand

Nickel prices rose further by 1.15 per cent to Rs 605.50 per kg in futures trade today as speculators engaged in enlarging positions, taking positive cues from spot market on surging demand from alloy-makers.

At the Multi Commodity Exchange, nickel for delivery in July went up by Rs 6.90, or 1.15 per cent to Rs 605.50 per kg in a business turnover of 4,723 lots.

On similar lines, the metal for delivery in June traded higher by Rs 6.70, or 1.13 per cent to Rs 600.40 per kg in 17,612 lots.

Analysts said widening of positions by participants on the back of strong demand from alloy-makers in the spot markets, kept nickel prices higher at futures trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)