Nickel futures gain on spot demand

New Delhi, Mar 24 () Nickel prices on Tuesday gained 1.22 per cent to Rs 852.90 per kg in futures trade as speculators built positions on rising demand from alloy-makers at spot market.

On the Multi Commodity Exchange, nickel contracts for March delivery gained Rs 10.30, or 1.22 per cent, to Rs 852.90 per kg in a business turnover of 1,693 lots.

Similarly, the metal for April delivery traded higher by Rs 18.90, or 2.26 per cent, at Rs 854.10 per kg in a business turnover of 316 lots.

Rising demand in spot market from alloy-makers mainly supported price rise in nickel futures, analysts said. VHP SHWSHW