BS:Nickel futures up 0.11% on global cues, spot demand
Tracking firming trend in base metals at the London Metal Exchange and rising domestic demand, nickel futures rose by 0.43% to Rs 1,035.10 per kg today.
At the Multi Commodity Exchange, nickel for delivery in January edged up by Rs 4.40, or 0.43%, to Rs 1,035.10 per kg, with a turnover of 2,183 lots.
The metal for delivery in February also moved up by Rs 4.10, or 0.40%, to Rs 1,041.10 per kg, with a business volume of 534 lots.
Nickel rose 0.4% to $20,702 a tonne at the London Metal Exchange (LME).
Analysts said fresh positions built-up by speculators on the back of a firming trend at the LME and rising domestic demand from alloy-makers, mainly supported the upside in nickel futures prices here.
