 "Nickel up 0.3% on firm demand")
Nickel prices moved up by 0.32% to Rs 817.60 per kg in futures market today as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers but a weak trend overseas, restricted gains.
At the Multi Commodity Exchange (MCX), the May contract gained Rs 2.60, or 0.32%, to Rs 817.60 per kg in 1,346 lots.
The June contract rose by Rs 2.30, or 0.28%, to Rs 823.90 per kg in 65 lots.
Market analysts said increased domestic demand from alloy-makers mainly influenced nickel prices at futures trade but a weak trend in base metals at the LME after data indicated signs of slowdown in the US economy, limited gains.
At the Multi Commodity Exchange (MCX), the May contract gained Rs 2.60, or 0.32%, to Rs 817.60 per kg in 1,346 lots.
The June contract rose by Rs 2.30, or 0.28%, to Rs 823.90 per kg in 65 lots.
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At the London Metal Exchange (LME) nickel traded a shade higher at $14,900 per tonne.
Market analysts said increased domestic demand from alloy-makers mainly influenced nickel prices at futures trade but a weak trend in base metals at the LME after data indicated signs of slowdown in the US economy, limited gains.