 "Nickel moves up by 1% in trade on spot demand")
Nickel prices rose by Rs 8.90 to Rs 858 per kg in futures trading today as speculators created fresh positions on the back of a rise in demand from alloy-makers in the spot market.
At the Multi Commodity Exchange, nickel for delivery in August rose by Rs 8.90, or 1.05% to Rs 858 per kg in business turnover of 3,095 lots.
Similarly, nickel for delivery in September gained Rs 8.10, or 0.95% to Rs 864.70 per kg in 119 lots.
They said, however, a weakening trend overseas as output from the services industry shrank in Europe, capped the gains.
At the Multi Commodity Exchange, nickel for delivery in August rose by Rs 8.90, or 1.05% to Rs 858 per kg in business turnover of 3,095 lots.
Similarly, nickel for delivery in September gained Rs 8.10, or 0.95% to Rs 864.70 per kg in 119 lots.
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Market analysts said fresh positions built-up by speculators amid rising demand from alloy-makers in the spot market mainly pushed up nickel prices at futures trade.
They said, however, a weakening trend overseas as output from the services industry shrank in Europe, capped the gains.
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