 "Nickel up 0.4% on strong global cues, domestic demand")
Nickel prices rose by 0.40% to Rs 843 per kg in futures trade today as speculators created fresh positions, supported by a firming trend in the global market and increased demand from domestic alloy-makers.
At the Multi Commodity Exchange, nickel for delivery in August gained by Rs 3.40, or 0.40%, to Rs 843 per kg, with a business turnover of 34 lots.
Similarly, nickel for delivery in July traded higher by Rs 3.20, or 0.38%, to Rs 834.50 per kg, in a turnover of 986 lots.
Marketmen said the rise in nickel futures prices was mostly due to a firming trend in base metals in global markets on speculation that demand may rise after a report showing manufacturing in June rebounded in the US, the world's biggest metals consumer after China.
Besides, rising demand at domestic markets from alloy- makers, also boosted nickel prices at futures trade.
At the Multi Commodity Exchange, nickel for delivery in August gained by Rs 3.40, or 0.40%, to Rs 843 per kg, with a business turnover of 34 lots.
Similarly, nickel for delivery in July traded higher by Rs 3.20, or 0.38%, to Rs 834.50 per kg, in a turnover of 986 lots.
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Globally, nickel advanced 1.9% to $13,965 per tonne.
Marketmen said the rise in nickel futures prices was mostly due to a firming trend in base metals in global markets on speculation that demand may rise after a report showing manufacturing in June rebounded in the US, the world's biggest metals consumer after China.
Besides, rising demand at domestic markets from alloy- makers, also boosted nickel prices at futures trade.
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