ECM: Nickel futures up over 1 pc on global cues, domestic demand
NEW DELHI: Buoyed by the firming trend overseas, along with pick up in domestic spot demand, nickel futures prices gained Rs 11.60 to Rs 1,075.10 per kg today.
At the Multi Commodity Exchange counter, nickel for December delivery shot up by Rs 11.60, or 1.09 per cent, to Rs 1,075.10 per kg, with a business volume of four lots.
Similarly, the metal for delivery in October moved up by Rs 10.40, or 1 per cent, to Rs 1,053.20 per kg, with a business turnover of two lots.
Analysts said apart from firming trend in copper and other base metals at the London Metal Exchange , as a weaker dollar raised commodities appeal as an alternate investment, firm demand at the domestic spot markets from alloy makers, also influenced nickel futures prices.
