Nickel up 0.1% on firm demand, global cues

Nickel for delivery in July gained 0.19%

Nickel prices moved up by 0.19% to Rs 825.50 per kg in the futures market today as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers.

Besides, an encouraging trend in copper and other base metals in the global markets supported the upside.

At the Multi Commodity Exchange, nickel for delivery in July gained Rs 1.60, or 0.19%, to Rs 825.50 per kg in business turnover of 2,400 lots.

Nickel for delivery in August rose by Rs 1.30, or 0.16%, to trade at Rs 833.10 per kg in 112 lots.

Market analysts said apart from increased domestic demand from alloy-makers, firmness in base metals overseas.