Nickel moves up by 0.8% on spot demand
Speculators enlarged their positions driven by rising demand from alloy-makers in the spot market
 "Nickel moves up by 0.8% on spot demand")
Nickel prices moved up by 0.78% to Rs 814.40 per kg in futures trade today as speculators enlarged their positions driven by rising demand from alloy-makers in the spot market.
At the Multi Commodity Exchange, nickel for delivery in April gained Rs 6.30, or 0.78%, to Rs 814.40 per kg in a business turnover of 547 lots.
Similarly, the metal for delivery in May moved up by Rs 5.60, or 0.69%, to Rs 821.10 per kg in 12 lots.
Analysts said that besides rising demand from alloy- makers in the spot market, influenced nickel prices at futures trade but absence of cues from the London Metal Exchange that is closed today, limited the gains.
At the Multi Commodity Exchange, nickel for delivery in April gained Rs 6.30, or 0.78%, to Rs 814.40 per kg in a business turnover of 547 lots.
Similarly, the metal for delivery in May moved up by Rs 5.60, or 0.69%, to Rs 821.10 per kg in 12 lots.
Analysts said that besides rising demand from alloy- makers in the spot market, influenced nickel prices at futures trade but absence of cues from the London Metal Exchange that is closed today, limited the gains.