Nickel futures jump 1% on firm spot demand

NEW DELHI: Nickel prices rose 1.04 per cent to Rs 1,196.20 per kg in futures trade on Tuesday as speculators built fresh positions on a rising demand from alloy makers in spot market.

On the Multi Commodity Exchange, nickel contracts for April delivery gained Rs 12.30, or 1.04 per cent, to Rs 1,196.20 per kg in a business turnover of 1,751 lots.

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

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