 "Nickel up 1.2% on global cues")
Buoyed by a firming trend overseas, nickel prices moved up by 1.25% to Rs 1,101.20 per kg in futures trading today as speculators created fresh positions.
Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in April rose by Rs 12.60, or 1.25%, to Rs 1,101.20 per kg in business turnover of 2,378 lots.
Market analysts said speculative positions created by participants in tandem with a firm global trend after nickel advanced to a 14-month high on concern that escalating tension in Ukraine may disrupt supplies from Russia and Indonesia's ban on ore exports, mainly led to rise in nickel prices at futures trade.
Meanwhile, nickel advanced 1.90% to 18,260 dollar a metric tonne on the London Metal Exchange.
Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in April rose by Rs 12.60, or 1.25%, to Rs 1,101.20 per kg in business turnover of 2,378 lots.
Also Read
Similarly, the metal for delivery in May traded higher by Rs 12.80, or 1.17% to Rs 1,106.70 per kg in 358 lots.
Market analysts said speculative positions created by participants in tandem with a firm global trend after nickel advanced to a 14-month high on concern that escalating tension in Ukraine may disrupt supplies from Russia and Indonesia's ban on ore exports, mainly led to rise in nickel prices at futures trade.
Meanwhile, nickel advanced 1.90% to 18,260 dollar a metric tonne on the London Metal Exchange.
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%