Nickel up by 0.5% on spot demand

Nickel prices were up by 0.54% to Rs 635.10 per kg in futures market today as speculators raised their bets amid a firming trend at the spot markets on domestic demand even as metal weakened overseas.

At the Multi Commodity Exchange, nickel for delivery in May was trading higher by Rs 3.40, or 0.54%, to Rs 635.10 per kg, in a business turnover of 1,561 lots.

Read more from our special coverage on "NICKEL PRICES"

• Nickel down by 0.6% on global cues
• Nickel down by 0.5% on overseas cues
• Nickel up by 0.4% on firm spot demand
• Nickel up by 1.4% on global cues
• Nickel up by 0.7% on global cues

 

The metal for delivery in far-month June rose by Rs 2.40, or 0.38%, to trade at Rs 640.30 per kg in 32 lots.

Analysts said increased domestic demand at the spot markets from alloy-makers, supported the upside in nickel prices at futures trade here but a weak trend in base metals overseas, restricted losses.