 "Nickel up 0.6% on overseas cues, spot demand")
Nickel prices went up by 0.66% to Rs 667.50 per kg in futures market today after speculators widened their positions, driven by a firming trend overseas and pick-up in demand at the domestic spot markets.
In futures trading at Multi Commodity Exchange, nickel for delivery in November spurted Rs 4.40, or 0.66%, to Rs 667.50 per kg, in a business turnover of 767 lots.
Similarly, the metal for delivery in December was trading higher by Rs 4.20, or 0.63%, to Rs 674.30 per kg in 33 lots.
Analysts said besides rising demand from alloy-makers at domestic spot markets, a firming trend in metal at the London Metal Exchange (LME) supported the upside in nickel prices at futures trade here.
In futures trading at Multi Commodity Exchange, nickel for delivery in November spurted Rs 4.40, or 0.66%, to Rs 667.50 per kg, in a business turnover of 767 lots.
Similarly, the metal for delivery in December was trading higher by Rs 4.20, or 0.63%, to Rs 674.30 per kg in 33 lots.
Analysts said besides rising demand from alloy-makers at domestic spot markets, a firming trend in metal at the London Metal Exchange (LME) supported the upside in nickel prices at futures trade here.
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