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Nickel futures gain 0.35% on spot demand


New Delhi:  Nickel prices rose 0.35 per cent to Rs 890.50 per kg in the futures market today after speculators built positions amid a firming trend at domestic spot market even as the metal weakened at London Metal Exchange (LME).

At the Multi Commodity Exchange, nickel for delivery in April gained Rs 3.10, or 0.35 per cent, to Rs 890.5 per kg in a business turnover of 37 lots.

The metal for delivery in March rose by Rs 2.50 to trade at Rs 882.60 per kg in 784 lots.

Marketmen attributed the jump in nickel futures to rising demand from alloy-makers at domestic spot markets but the metal’s weakness at the LME, capped the gains.

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