Nickel up by 0.7% on firm demand
Speculators widened positions, tracking a firming trend in spot market on increased demand from alloy-makers
 "Nickel up by 0.7% on firm demand")
Nickel prices moved up by Rs 3.90 to Rs 571.50 per kg in futures market today after speculators widened positions, tracking a firming trend in spot market on increased demand from alloy-makers.
However, metal's weakness at the London Metal Exchange restricted the upside.
At the Multi Commodity Exchange, nickel for delivery in January 2016 gained Rs 3.90, or 0.69%, to Rs 571.50 per kg in business turnover of 376 lots.
In a similar manner, the metal for delivery in current month rose by Rs 3.80, or 0.68%, to Rs 565.40 per kg in 1,780 lots.
Market analysts said increased domestic demand from alloy-makers and other consuming industries influenced nickel futures here but metal's weakness at the LME limited the gains.
However, metal's weakness at the London Metal Exchange restricted the upside.
At the Multi Commodity Exchange, nickel for delivery in January 2016 gained Rs 3.90, or 0.69%, to Rs 571.50 per kg in business turnover of 376 lots.
In a similar manner, the metal for delivery in current month rose by Rs 3.80, or 0.68%, to Rs 565.40 per kg in 1,780 lots.
Market analysts said increased domestic demand from alloy-makers and other consuming industries influenced nickel futures here but metal's weakness at the LME limited the gains.
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First Published: Dec 29 2015 | 11:42 AM IST