 "Nickel up 0.2% on global cues")
Nickel prices rose 0.23% to Rs 1,147.20 per kg in futures trading today as participants enlarged speculative positions.
Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in June rose by Rs 2.60, or 0.23%, to Rs 1,147.20 per kg in a business turnover of 972 lots.
Market analysts said besides rising domestic demand, a firming in base metals at London Metal Exchange (LME), influenced nickel futures.
Meanwhile, nickel for delivery in three months climbed 0.40% to $19,328 per tonne at LME.
Nickel prices climbed 39% this year at LME after Indonesia, the world's biggest producer of mined nickel, banned ore exports in January.
Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in June rose by Rs 2.60, or 0.23%, to Rs 1,147.20 per kg in a business turnover of 972 lots.
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The metal for delivery in July rose Rs 2.30, or 0.20%, to trade at Rs 1,151.30 per kg in 41 lots.
Market analysts said besides rising domestic demand, a firming in base metals at London Metal Exchange (LME), influenced nickel futures.
Meanwhile, nickel for delivery in three months climbed 0.40% to $19,328 per tonne at LME.
Nickel prices climbed 39% this year at LME after Indonesia, the world's biggest producer of mined nickel, banned ore exports in January.
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