 "Nickel up 0.64% on rising spot demand")
Nickel prices moved up by 0.64 per cent to Rs 948.80 per kg in futures trade today as speculators enlarged positions amid rising demand from alloy-makers in domestic spot markets.
However, weakness of metals in overseas market, capped the gains.
At the Multi Commodity Exchange, nickel for delivery in November moved up by Rs 6, or 0.64 per cent, to Rs 948.80 per kg in a business turnover of 399 lots.
Market analysts attributed the rise in nickel prices in futures trade to enlarging of positions by speculators, driven by rising demand from alloy-maker in the spot market but weakness of metals at the London Metal Exchange, limited the rise.
However, weakness of metals in overseas market, capped the gains.
At the Multi Commodity Exchange, nickel for delivery in November moved up by Rs 6, or 0.64 per cent, to Rs 948.80 per kg in a business turnover of 399 lots.
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December nickel traded higher by Rs 4.70, or 0.49 per cent, to Rs 954.60 per kg in 181 lots.
Market analysts attributed the rise in nickel prices in futures trade to enlarging of positions by speculators, driven by rising demand from alloy-maker in the spot market but weakness of metals at the London Metal Exchange, limited the rise.
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