Nickel futures extend gains on global cues

Continued its rising streak for the third day, nickel prices rose further by 0.46 per cent to Rs 1,064 per kg in futures trade today as speculators enlarged their positions amid a firm trend overseas.
At the Multi Commodity Exchange, nickel for delivery in December gained Rs 4.90, or 0.46 per cent, to Rs 1,064.00 per kg in a business turnover of 4,374 lots.
In a similar fashion, the metal for delivery in January next year moved up by Rs 4.20, or 0.39 per cent, to Rs 1070.20 per kg in 106 lots.
Market analysts attributed the persistent rise in nickel prices at futures trade to a firming global trend before employment data from the US, and after Indonesia upheld its raw-ore export ban.

Globally, nickel for delivery in three months rose 0.2 per cent to USD 17,150 a metric tonne on the London Metal Exchange.