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Nickel strengthens by 0.41%

Strong demand from alloy makers boosted the price

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prices rose by 0.41% to Rs 952 per kg in futures trade today as speculators enlarged their positions.

At the Multi Commodity Exchange, the January contract rose by Rs 4.90, or 0.41%, to Rs 948.10 per kg, with a business turnover of 620 lots.

The December contract traded higher by Rs 3.60, or 0.38%, to Rs 943.30 per kg, with a turnover of 877 lots.

Marketmen said firm trend in base metals at the London Metal Exchange after manufacturing in in December expanded at the fastest pace boosted demand outlook for metals.

Besides, strong demand from alloy-makers also influenced nickel prices, they added.

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Zinc marginally up by 0.13%

Zinc futures prices rose marginally by 0.13% to Rs 112.65 per kg in futures trade today as speculators enlarged positions.

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