Nickel prices shot up by Rs 8.50 to Rs 1,195.50 per kg in futures trade today as speculators indulged in enlarging their positions, supported by pick-up in spot demand and a firming trend overseas.
At the Multi Commodity Exchange, nickel for delivery in March shot up by Rs 8.50, or 0.72 per cent, to Rs 1,195.50 per kg, with an open interest of a single lot.
Likewise, the metal for delivery in April jumped up by Rs 7.50, or 0.63 per cent, to Rs 1,203.30 per kg, with a business turnover of two lots.
Market analysts said besides pick-up in demand from alloy makers, firming trend in other base metals overseas influenced the trading sentiment.
Meanwhile, nickel rose by 0.4 per cent to $26,450 a metric tone on the London Metal Exchange.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app