Nickel futures rise over 1 pc on strong demand

New Delhi, Feb 5 () Nickel prices on Wednesday edged up by Rs 11.50 to Rs 957.80 per kg in futures trade as speculators built positions on rising demand from alloy-makers at the spot market.

On the Multi Commodity Exchange, nickel contracts for February delivery gained Rs 11.50, or 1.22 per cent, to Rs 957.80 per kg in a business turnover of 3,530 lots.

Similarly, the metal for March delivery traded higher by Rs 10.90, or 1.15 per cent, at Rs 955 per kg in a business turnover of 40 lots.

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