Nickel up 0.1% on rising demand, global cues
Metal for delivery in May contracts inched up by 0.13%
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Amid rising demand from domestic alloy-makers and a firming overseas, nickel prices rose further by 0.18% to Rs 1156.20 per kg in futures trading today.
At the Multi Commodity Exchange, nickel for delivery in June rose by Rs 2.10, or 0.18%, to Rs 1,156.20 per kg in business turnover of 149 lots.
Likewise, the metal for delivery in May contracts inched up by Rs 1.50, or 0.13% to Rs 1,154 per kg in 508 lots.
Market analysts said apart from rising domestic demand, particularly from alloy-makers, firming trend global markets mainly supported the upside in nickel prices at futures trade.
Meanwhile, nickel added 0.5% to 19,600 dollar a metric tonne on the London Metal Exchange.
At the Multi Commodity Exchange, nickel for delivery in June rose by Rs 2.10, or 0.18%, to Rs 1,156.20 per kg in business turnover of 149 lots.
Likewise, the metal for delivery in May contracts inched up by Rs 1.50, or 0.13% to Rs 1,154 per kg in 508 lots.
Market analysts said apart from rising domestic demand, particularly from alloy-makers, firming trend global markets mainly supported the upside in nickel prices at futures trade.
Meanwhile, nickel added 0.5% to 19,600 dollar a metric tonne on the London Metal Exchange.
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First Published: May 27 2014 | 1:42 PM IST