Nickel futures edge up on spot demand

New Delhi, Jan 16 (PTI) Nickel prices on Thursday rose by Rs 4.10 to Rs 1,053 per kg in futures trade as speculators built positions due to rising demand from alloy-makers in domestic market.

On the Multi Commodity Exchange, nickel contracts for January delivery gained Rs 4.10, or 0.39 per cent, to Rs 1,053 per kg in a business turnover of 2,037 lots.

The metal for February delivery gained Rs 4.60, or 0.44 per cent, to Rs 1,042 per kg in a business turnover of 515 lots.

Rising demand in spot market from alloy-makers mainly supported the rise in nickel futures, analysts said. PTI SHW RVK