 "Nickel up 1.5% on firm demand, global cues")
Nickel prices moved up by 1.51% to Rs 955.40 per kg in futures market today as speculators enlarged their positions on rising spot demand and a firming trend in the global market.
At the Multi Commodity Exchange, nickel for delivery in August gained Rs 14.20, or 1.51%, to Rs 955.40 per kg in business turnover of 1,935 lots.
Similarly, nickel for delivery in September rose by Rs 12.70, or 1.34%, to Rs 964 per kg in 517 lots.
In the international market, nickel climbed 0.4% to $14,240 a tonne at the LME.
At the Multi Commodity Exchange, nickel for delivery in August gained Rs 14.20, or 1.51%, to Rs 955.40 per kg in business turnover of 1,935 lots.
Similarly, nickel for delivery in September rose by Rs 12.70, or 1.34%, to Rs 964 per kg in 517 lots.
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Market analysts said apart from increased domestic demand from alloy-makers and covering-up of short positions by speculators, firmness in metal at the London Metal Exchange (LME) also influenced nickel futures here.
In the international market, nickel climbed 0.4% to $14,240 a tonne at the LME.
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