Nickel rises 0.5% on spot demand
Speculators created fresh positions amid rising demand at domestic spot markets
 "Nickel rises 0.5% on spot demand")
Nickel prices moved up by 0.47% to Rs 971.40 per kg in futures trading today as speculators created fresh positions amid rising demand at domestic spot markets.
However, metal's weakness at the London Metal Exchange (LME) capped the gains.
At the Multi Commodity Exchange, nickel for delivery in November rose by Rs 4.50, or 0.47%, to Rs 971.40 per kg in business turnover of 385 lots.
Meanwhile, nickel for delivery in three months contracts slid 0.30% to 15,728 dollar a metric tonne at the LME.
However, metal's weakness at the London Metal Exchange (LME) capped the gains.
At the Multi Commodity Exchange, nickel for delivery in November rose by Rs 4.50, or 0.47%, to Rs 971.40 per kg in business turnover of 385 lots.
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Market analysts said a firming trend at the spot markets on the back of pick up in demand from alloy makers mainly influenced nickel futures here but a weak trend in select base metals at the LME limited the gains.
Meanwhile, nickel for delivery in three months contracts slid 0.30% to 15,728 dollar a metric tonne at the LME.