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Rising demand lifts nickel futures

Press Trust of India  |  New Delhi 

Nickel prices on Friday edged up by Rs 1.20 to Rs 1,173 per kg in futures trade as speculators built their positions owing to rising demand from alloy-makers at spot market.

On the Multi Commodity Exchange, nickel contracts for November delivery gained Rs 1.20, or 0.10 per cent, to Rs 1,173 per kg in a business turnover of 4,635 lots.

Similarly, the metal for delivery in December traded up by 10 paise, or 0.01 per cent, at Rs 1,164.60 per kg in a business turnover of 21 lots.

Rising demand in spot market from alloy-makers supported price rise in nickel futures, analysts said.

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

First Published: Fri, November 08 2019. 12:50 IST