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Nickel futures strengthen on domestic demand

Press Trust of India  |  New Delhi 

Nickel prices moved up by Rs 7.70 to Rs 1,221.30 per kg in futures trade on Wednesday as speculators enlarged their positions driven by firm demand from alloy-makers in the spot market.

On the Multi Commodity Exchange, nickel contracts for September delivery gained Rs 7.70, or 0.63 per cent, to Rs 1,221.30 per kg in a business turnover of 4,474 lots.

Similarly, the metal for delivery in October traded up by Rs 5.40 at Rs 1,220.40 per kg in a business turnover of 527 lots.

Rising demand at spot markets from alloy-makers supported price rise in copper futures, analysts said.

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

First Published: Wed, September 18 2019. 12:25 IST