Nickel futures up on increasing demand

Nickel futures were trading higher during the noon trade in the domestic market on Thursday as participants widened their bets, driven by pick-up in demand in the spot market. Analysts attributed rise in nickel futures to building-up of positions by traders due to pick up in demand from alloy- makers in the spot market.

At the MCX, nickel futures for June 2018 contract is trading at Rs 1052.70 per kg, up by 0.89 per cent, after opening at Rs 1049.20, against a previous close of Rs 1043.40. It touched the intra-day high of Rs 1054.30

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