BS reported that nickel prices traded higher by 0.11% to INR 992.30 per kilogram in futures trading as speculators created fresh positions, supported by a rise in demand from alloy makers.

At the Multi Commodity Exchange, January 2012 nickel traded higher by INR 1.10 or 0.11% to INR 992.30 per kilogram, with a business turnover of 861 lots.

The February 2012 delivery edged up by 70 paise or 0.07% to INR 997.40 per kilogram, with an open interest of 62 lots.

Market analysts said that fresh buying by speculators on the back of pick up in demand from alloy makers in the spot market mainly led to a rise in nickel prices at futures trade.

(Sourced from www.business-standard.com)