 "Nickel up by 0.7% on overseas cues")
Nickel prices went up by 0.73% to Rs 592 per kg in futures market today after speculators strengthened 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 March spurted Rs 4.30, or 0.73%, to Rs 592 per kg, in a business turnover of 93 lots.
Similarly, the metal for delivery in February was trading higher by Rs 4.10, or 0.70%, to Rs 585.90 per kg in 1,720 lots.
Analysts said besides rising demand from alloy-makers at domestic spot markets, a firming trend in base metals pack in global market, influenced nickel prices at futures trade.
In futures trading at Multi Commodity Exchange, nickel for delivery in March spurted Rs 4.30, or 0.73%, to Rs 592 per kg, in a business turnover of 93 lots.
Similarly, the metal for delivery in February was trading higher by Rs 4.10, or 0.70%, to Rs 585.90 per kg in 1,720 lots.
Analysts said besides rising demand from alloy-makers at domestic spot markets, a firming trend in base metals pack in global market, influenced nickel prices at futures trade.