Nickel futures up 0.33% on overseas trend

Tracking firming trend in other base metals overseas and strong domestic demand, nickel futures traded 0.33% higher today.

At the Multi Commodity Exchange counter, nickel for delivery in February contract traded Rs 4.20, or 0.33% higher, at Rs 1,281.50 per kg, with a trade turnover of three lots.

The metal for delivery in March gained Rs 3.90, or 0.30% to Rs 1,285.70 per kg, with a business turnover of two lots.

Analysts said besides firming trend in copper and other base metals on better demand outlook and pick up in manufacturing activity in the US and China, strong demand from alloy makers at spot markets, also influenced the nickel futures prices here.

Meanwhile, nickel traded a shade higher at $27,997 per tonne at the London Metal Exchange.