 "Nickel up by 0.2% on spot demand, global cues")
Nickel prices were up by 0.24% at Rs 582.40 per kg in futures trade today on pick up in demand from consuming industries in the spot market amid a firm trend in base metals in Asia.
At the Multi Commodity Exchange, nickel for delivery this month moved up by Rs 1.40, or 0.24%, to Rs 582.40 per kg in a business turnover of 537 lots.
Also, the metal for delivery in April gained Rs 1.30, or 0.22% to Rs 589.60 per kg in 79 lots.
Market analysts said besides pick-up in domestic demand from alloy-makers, a firm trend in copper and other base metals at the Shanghai Futures Exchange, led to the rise in nickel prices at futures trade here.
Meanwhile, the London Metal Exchange (LME) was closed today for a public holiday.
At the Multi Commodity Exchange, nickel for delivery this month moved up by Rs 1.40, or 0.24%, to Rs 582.40 per kg in a business turnover of 537 lots.
Read more from our special coverage on "NICKEL PRICES"
Also, the metal for delivery in April gained Rs 1.30, or 0.22% to Rs 589.60 per kg in 79 lots.
Market analysts said besides pick-up in domestic demand from alloy-makers, a firm trend in copper and other base metals at the Shanghai Futures Exchange, led to the rise in nickel prices at futures trade here.
Meanwhile, the London Metal Exchange (LME) was closed today for a public holiday.
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