Nickel up by 0.7% on global cues

Nickel prices moved up by Rs 4.30 to Rs 577.80 per kg in futures market today as speculators raised their bets amid a firming trend overseas and spot demand.

At the Multi Commodity Exchange, nickel for delivery in May gained Rs 4.30, or 0.75%, to Rs 577.80 per kg, in a business turnover of six lots.

Read more from our special coverage on "NICKEL PRICES"

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• Nickel up by 0.2% on spot demand, global cues
• Nickel falls by over 2% on weak global cues

 

The metal for delivery in April rose by Rs 4.10, or 0.72%, to trade at Rs 571.70 per kg in 644 lots.

Analysts said apart from increased domestic demand from alloy-makers, firmness in metal at the London Metal Exchange, influenced nickel prices at futures trade.