ET:Nickel futures up on firm global trend, spot demand
NEW DELHI: Nickel prices gained 0.41 per cent to Rs 970 per kg in futures market today, after participants enlarged positions, taking positive cues from overseas markets, and pick-up in domestic demand from alloy-makers.
At the Multi Commodity Exchange, nickel for delivery in December rose by Rs 4, or 0.41 per cent, to Rs 970.90 per kg, with a business turnover of 2,383 lots.
The metal for delivery in January traded higher by Rs 3.70, or 0.38 per cent, to Rs 977 per kg in a business volume of 315 lots.
Marketmen said besides pick-up in demand from alloy-makers in the domestic spot markets, a firming trend in copper and other base metals overseas after encouraging China's economic data, raising demand in the world's biggest user, supported the upside in nickel prices at futures trade here.
