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Nickel futures rise on strong demand

Press Trust of India  |  New Delhi 

Nickel prices on Friday moved up by Rs 9.40 to Rs 993 per kg in futures trade as speculators enlarged their positions driven by firm demand from alloy-makers in spot market.

On the Multi Commodity Exchange, nickel contracts for December delivery gained Rs 9.40, or 0.96 per cent, to Rs 993 per kg in a business turnover of 2,190 lots.

Similarly, the metal for delivery in January traded up by Rs 7.80, or 0.78 per cent at Rs 991.10 per kg in a business turnover of 27 lots.

Rising demand in spot market from alloy-makers supported price rise in nickel futures, analysts said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 06 2019. 13:10 IST