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Nickel futures marginally up on global cues, spot demand

Press Trust of India  |  New Delhi 

Nickel prices moved up by 0.06 per cent to Rs 702.30 per kg in futures market today as speculators raised their bets amid a firming trend overseas and spot demand.

At the Multi Commodity Exchange, nickel for delivery in November was trading higher by 40 paise, or 0.06 per cent at Rs 702.30 per kg in a business turnover of 21 lots.

The metal for delivery in current month rose by 30 paise, or 0.04 per cent, to trade at Rs 696.30 per kg in 741 lots.

Analysts said apart from increased domestic demand from alloy-makers, firmness in metal at the Metal Exchange after released data showing the first rise in factory gate prices for more than four years, influenced nickel prices at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 14 2016. 11:57 IST