Nickel futures jump on pickup in spot demand

NEW DELHI: Nickel prices rose by 1.5 per cent to Rs 1,275.10 per kg in futures trade on Tuesday 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 18.90, or 1.5 per cent, to Rs 1,275.10 per kg in a business turnover of 1,453 lots.

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

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