Nickel gains 0.22% on spot demand
Firm global trend influences prices
Nickel prices moved up marginally by Rs 2.10 to Rs 973.80 per kg in futures trade today as speculators enlarged positions on the back of a pick up in demand amid a firming trend overseas.
At the Multi Commodity Exchange, nickel for delivery in November moved up by Rs 2.10, or 0.22%, to Rs 973.80 per kg, with a business turnover of 114 lots.
October nickel traded higher by Rs 1.10, or 0.11%, to Rs 966.60 per kg, with an open interest of 1,628 lots.
Marketmen said besides pick up in demand from alloy-makers in the domestic spot markets, a firming trend in global markets on speculation that moves by central banks will stimulate growth and boost demand for industrial metals, pushed up nickel prices in futures market.