 "Nickel up 0.7% on global cues, spot demand")
Nickel prices were up by 0.72% to Rs 1,125.70 per kg in futures market today as speculators enlarged positions amid a firming trend overseas and spot demand.
At the Multi Commodity Exchange, nickel for delivery in September gained Rs 8.10, or 0.72%, to Rs 1,125.70 per kg in a business turnover of 1,859 lots.
The metal for delivery in October rose by a similar margin to Rs 1,132.50 per kg in 52 lots.
Analysts said apart from increased domestic demand from alloy-makers, firmness in base metals in global markets ahead of industrial output data from China, the biggest consumer of base metals, influenced nickel prices in futures trade here.
At the Multi Commodity Exchange, nickel for delivery in September gained Rs 8.10, or 0.72%, to Rs 1,125.70 per kg in a business turnover of 1,859 lots.
The metal for delivery in October rose by a similar margin to Rs 1,132.50 per kg in 52 lots.
Analysts said apart from increased domestic demand from alloy-makers, firmness in base metals in global markets ahead of industrial output data from China, the biggest consumer of base metals, influenced nickel prices in futures trade here.