 "Nickel up by 0.2% on spot demand")
Nickel futures traded a shade higher at Rs 830.70 per kg today, mostly in line with a firming trend overseas, amid covering-up of short positions by speculators.
Besides, increased demand in spot markets from domestic alloy-makers influenced prices.
Nickel for delivery in June gained Rs 1.40, or 0.17%, to Rs 830.70 per kg in a business turnover of 175 lots in futures trading at the Multi Commodity Exchange.
Analysts said that apart from increased domestic demand from alloy-makers, short position covering in view of the approaching monthly expiry and a firming trend overseas drove the upside.
Besides, increased demand in spot markets from domestic alloy-makers influenced prices.
Nickel for delivery in June gained Rs 1.40, or 0.17%, to Rs 830.70 per kg in a business turnover of 175 lots in futures trading at the Multi Commodity Exchange.
Also Read
The metal for delivery in May contracts was up 20 paise, or 0.02%, to Rs 823.70 per kg in 582 lots.
Analysts said that apart from increased domestic demand from alloy-makers, short position covering in view of the approaching monthly expiry and a firming trend overseas drove the upside.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%