 "Nickel up by 0.8% on rising demand")
Supported by rising demand from alloy-makers in domestic spot markets and a firming trend overseas, nickel prices moved up by 0.77% to Rs 670.20 per kg in futures trade today.
Nickel for delivery in September moved up by Rs 5.10 or 0.77% to Rs 663.30 per kg, in a business turnover of 1,414 lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in October contracts traded higher by Rs 5.05 or 0.76% to Rs 670.25 per kg in 166 lots.
Market analysts attributed the rise in nickel prices at futures trade to enlarging of positions by speculators, driven by rising demand from alloy-makers in the spot market and a better trend in metals at the London Metal Exchange.
Nickel for delivery in September moved up by Rs 5.10 or 0.77% to Rs 663.30 per kg, in a business turnover of 1,414 lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in October contracts traded higher by Rs 5.05 or 0.76% to Rs 670.25 per kg in 166 lots.
Market analysts attributed the rise in nickel prices at futures trade to enlarging of positions by speculators, driven by rising demand from alloy-makers in the spot market and a better trend in metals at the London Metal Exchange.
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