ET:Nickel futures strengthen on overseas trend, spot demand
NEW DELHI: Taking positive cues from global markets amid pick up in spot demand, nickel prices rose by 0.52 per cent in futures trade today.
At the Multi Commodity Exchange, nickel for delivery in September traded higher by Rs 4.70, or 0.52 per cent, to Rs 901.60 per kg, with a business turnover of 4,670 lots.
The metal for delivery in October edged higher by Rs 4.50, or 0.50 per cent, to Rs 911 per kg, with a business turnover of 176 lots.
Marketmen said gains in base metals at the London Metal Exchange (LME) after the European Central Bank announced a bond-purchase plan to combat the region's debt crisis, strengthening the demand prospect for metals, influenced nickel futures here.
