Nickel futures rise on firm demand

New Delhi, Jun 5 (PTI) Nickel prices on Friday rose 0.38 per cent to Rs 965.90 per kg in futures trade as speculators built positions on rising demand from alloy makers in the spot market.

On the Multi Commodity Exchange, nickel contracts for June delivery gained Rs 3.70, or 0.38 per cent, to Rs 965.90 per kg in a business turnover of 1,991 lots.

Similarly, the metal for July delivery traded higher by Rs 1.50, or 0.16 per cent, at Rs 966.80 per kg in a business turnover of 198 lots.

Rising demand in spot market from alloy makers mainly supported the price rise in nickel futures, analysts said. PTI RUJ ANS ANS