IE:Nickel futures rise on global cues, spot demand
Nickel prices rose by 0.83 per cent to Rs 969.70 per kg in futures trade today as speculators created fresh positions tracking firm global trend.
At the Multi Commodity Exchange, nickel for delivery in January up by Rs 8, or 0.83 per cent, to Rs 969.70 per kg, with a business turnover of 198 lots.
Similarly, the metal for delivery in December traded higher by Rs 7.70, or 0.81 per cent, to Rs 962 per kg, with an open interest of 4,917 lots.
Marketmen said the rise in nickel prices at futures trade was mostly due to a firming trend in base metals after data showed Chinese manufacturing activity had picked up pace in November, suggesting growth in the biggest consumer of the metal is rebounding.
