Nickel rises by 0.5% on spot demand
Speculators created fresh positions amid rising demand at domestic spot markets
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Nickel prices edged higher by 0.48% to Rs 960.60 per kg in futures trading today as speculators created fresh positions amid rising demand at domestic spot markets.
However, the metal's weakness at the London Metal Exchange (LME) capped the gains.
At the Multi Commodity Exchange, nickel for delivery in November rose by Rs 4.60, or 0.48%, to Rs 960.60 per kg in a business turnover of 633 lots.
The metal for delivery in December also rose by Rs 4.50, or 0.47%, to Rs 967.10 per kg in 16 lots.
Market analysts said a firming trend at the spot markets on the back of pick-up in demand from alloy makers mainly influenced nickel futures here but a weak trend in select base metals at the LME limited the gains.
However, the metal's weakness at the London Metal Exchange (LME) capped the gains.
At the Multi Commodity Exchange, nickel for delivery in November rose by Rs 4.60, or 0.48%, to Rs 960.60 per kg in a business turnover of 633 lots.
The metal for delivery in December also rose by Rs 4.50, or 0.47%, to Rs 967.10 per kg in 16 lots.
Market analysts said a firming trend at the spot markets on the back of pick-up in demand from alloy makers mainly influenced nickel futures here but a weak trend in select base metals at the LME limited the gains.
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First Published: Nov 13 2014 | 12:41 PM IST