Nickel rises by 0.4% on global cues
Rising demand at domestic spot markets from alloy-makers also extended support
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Supported by a firming trend overseas, nickel prices rose by 0.40% to Rs 705.20 per kg in futures trading today as participants widened positions.
Besides, rising demand at domestic spot markets from alloy-makers also extended support.
At Multi Commodity Exchange, nickel for delivery in July rose Rs 2.80, or 0.40%, to Rs 705.20 per kg in a business turnover of 1,466 lots.
The metal for delivery in August contract also gained Rs 2.20, or 0.31%, to trade at Rs 712.80 per kg in 532 lots.
Marketmen said a firming trend in the base metal at the London Metal Exchange (LME) where it rose 0.5% and pick up in demand at domestic spot markets, mainly led to the rise in nickel futures here.
Besides, rising demand at domestic spot markets from alloy-makers also extended support.
At Multi Commodity Exchange, nickel for delivery in July rose Rs 2.80, or 0.40%, to Rs 705.20 per kg in a business turnover of 1,466 lots.
The metal for delivery in August contract also gained Rs 2.20, or 0.31%, to trade at Rs 712.80 per kg in 532 lots.
Marketmen said a firming trend in the base metal at the London Metal Exchange (LME) where it rose 0.5% and pick up in demand at domestic spot markets, mainly led to the rise in nickel futures here.
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First Published: Jul 31 2015 | 12:07 PM IST