ET:Nickel futures strengthen on overseas trend, spot demand
NEW DELHI: Taking positive cues from the global markets and pick up in spot demand, nickel prices rose by 0.20 per cent in futures trade today.
At the Multi Commodity Exchange, nickel for delivery in September traded higher by Rs 1.80, or 0.20 per cent, to Rs 902.80 per kg, with a business turnover of 3,709 lots.
The metal for delivery in August edged higher by Rs 1.70, or 0.19 per cent to Rs 893.10 per kg in 3,757 lots.
Marketmen said gains in copper at the London Metal Exchange (LME) on speculation that US Federal Reserve Chairman may hint at more stimulus to revive economic growth, increasing demand outlook for the base metals, influenced nickel futures here.
