BS:Nickel up 0.57% on industrial demand, global cues
Nickel futures rose by 0.57% today on a firming trend overseas and strong domestic demand from alloy-makers.
At the Multi Commodity Exchange, nickel for delivery in February rose by Rs 5.60, or 0.57%, to Rs 995.70 per kg, with a business turnover of 1,244 lots.
The March contract gained Rs 5.40, or 0.54%, to Rs 1,006 per kg, with a business turnover of 61 lots.
At the London Metal Exchange (LME), nickel advanced by 1.8% to $20,259 per tonne in early trade today.
Analysts said apart fron strong demand from domestic alloy-makers, reports of a firming trend in base metals at the LME as better-than-expected US economic data, also influenced nickel prices at futures trade here.
