Nickel up by 0.09%
Rising demand from alloy makers influenced the price
Nickel prices rose marginally by 0.09% to Rs 955 per kg in futures trade today as speculators enlarged their positions, tracking a firm trend in base metals overseas.
At the Multi Commodity Exchange, the January contract rose by 90 paise, or 0.09% to Rs 955 per kg in business turnover of 154 lots.
Similarly, the December contract traded higher by 50 paise, or 0.05%, to Rs 947.30 per kg in 554 lots.
Market analysts said strenghthened US labour and housing markets also pulled up the price.
Besides, US lawmakers trying to resolve a budget impasse supported the rise in Nickel futures here.
Further, rising demand from alloy-makers also influenced prices, they said.