ET:Nickel moves up in futures trade on global cues
NEW DELHI: Nickel prices recovered by Rs 4.70 to Rs 831.20 per kg in futures trading today as speculators created fresh positions, driven by a firm global trend.
At the Multi Commodity Exchange, nickel for delivery in June rose Rs 4.70, or 0.57 per cent, to Rs 831.20 per kg in business turnover of 2,065 lots.
Similarly, the metal for delivery in July traded higher by Rs 4.40, or 0.53 per cent, to Rs 837.50 per kg in 102 lots.
Market analysts said speculators created fresh positions in tandem with a firm global trend, where nickel recovered from almost four-year lows, mainly led to rise in metal prices at futures trade.
Besides, firm demand from alloy-makers at the spot markets also supported the upside, they said.
