Nickel prices were up by 0.25 per cent to Rs 892.90 per kg in futures market today as speculators raised bets, driven by pick up in demand from consuming industries in the spot market. At the Multi Commodity Exchange, nickel for delivery in April rose by Rs 2.20, or 0.25 per cent, to Rs 892.90 per kg in business turnover of 556 lots. Likewise, the metal for delivery in March contracts was trading higher by Rs 1.80, or 0.20 per cent to Rs 888.60 per kg in 12 lots. Market analysts attributed the rise in nickel futures to fresh positions built up by participants due to upsurge in demand from alloy-makers in the physical market.
Rise in demand lifts nickel futures by 0.25%
Press Trust of India |