Nickel up on firm global cues
Increased demand at domestic spot markets from alloy-makers influenced prices.
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Nickel prices moved up by Rs 5.70 to Rs 871.10 per kg in futures trading today as speculators created fresh positions, driven by a firm global trend.
Further, increased demand at domestic spot markets from alloy-makers influenced prices.
At the Multi Commodity Exchange, nickel for delivery in July rose by Rs 5.70, or 0.66 per cent, to Rs 871.10 per kg in business turnover of 81 lots.
Similarly, nickel for delivery in June traded higher by Rs 5.50, or 0.64 per cent to Rs 863.10 per kg in 2,032 lots.
Market analysts said the rise in nickel at futures market was mostly in tandem with a firming trend in overseas market and rising spot demand from alloy-makers.
Meanwhile, nickel advanced 2.4 per cent to $15,185 a on the London Metal Exchange.
Further, increased demand at domestic spot markets from alloy-makers influenced prices.
At the Multi Commodity Exchange, nickel for delivery in July rose by Rs 5.70, or 0.66 per cent, to Rs 871.10 per kg in business turnover of 81 lots.
Similarly, nickel for delivery in June traded higher by Rs 5.50, or 0.64 per cent to Rs 863.10 per kg in 2,032 lots.
Market analysts said the rise in nickel at futures market was mostly in tandem with a firming trend in overseas market and rising spot demand from alloy-makers.
Meanwhile, nickel advanced 2.4 per cent to $15,185 a on the London Metal Exchange.
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First Published: Jun 04 2013 | 12:36 PM IST