NEW DELHI: Nickel prices were up 0.74 per cent to Rs 1,324 per kg in the futures trade on Wednesday as speculators built up fresh positions on rising demand from alloy makers in the spot market.

On the Multi Commodity Exchange, nickel contracts for the June delivery gained Rs 9.70, or 0.74 per cent, to Rs 1,324 per kg in a business turnover of 1,949 lots.

A rise in demand in the spot market from alloy makers mainly supported the price rise in nickel futures, analysts said.