IE:Nickel moves up in futures trade on spot demand
Nickel prices rose by Rs 9.10 to Rs 980 per kg in futures trade today as speculators enlarged their positions, tracking a firm spot market trend on pick up in demand from alloy-makers.
At the Multi Commodity Exchange, nickel for delivery in September rose by Rs 9.10, or 0.94 per cent, to Rs 980 per kg, with a business turnover of 14,007 lots.
Similarly, the metal for delivery in October gained Rs 7.80, or 0.80 per cent, to Rs 985.40 per kg, with a business turnover of 11,588 lots.
Marketmen said a firming trend in the spot markets on the back of a rise in demand from alloy-makers, mainly pushed up nickel prices at futures market.
