Nickel futures rise 1.08 pc on strong demand

New Delhi, Jan 22 () Nickel prices on Wednesday edged up by Rs 11 to Rs 1,026.50 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 January delivery gained Rs 11, or 1.08 per cent, to Rs 1,026.50 per kg in a business turnover of 3,325 lots.

Similarly, the metal for February delivery traded higher by 11.10, or 1.11 per cent, to Rs 1,014.60 per kg in a business turnover of 224 lots.

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