 "Nickel up 0.4% as demand picks up")
Nickel prices gained 0.43% to Rs 873.70 per kg in futures trading today as speculators enlarged their positions, driven by pick up in demand in the spot market amid a firm global trend.
At the Multi Commodity Exchange, Nickel for delivery in November rose by Rs 3.70, or 0.43%, to Rs 873.70 per kg in business turnover of 877 lots.
Likewise, the metal for delivery in December traded higher by Rs 3.20, or 0.36%, to Rs 883.20 per kg in 44 lots.
Analysts said besides rising demand from alloy-makers, a firming global trend after US Federal Reserve Chairman nominee Janet Yellen backed stimulus until the economy and labour market improves, reducing concerns the central bank's bond-buying programme will soon be scaled back, mainly led to rise in nickel prices at futures trade.
At the Multi Commodity Exchange, Nickel for delivery in November rose by Rs 3.70, or 0.43%, to Rs 873.70 per kg in business turnover of 877 lots.
Likewise, the metal for delivery in December traded higher by Rs 3.20, or 0.36%, to Rs 883.20 per kg in 44 lots.
Analysts said besides rising demand from alloy-makers, a firming global trend after US Federal Reserve Chairman nominee Janet Yellen backed stimulus until the economy and labour market improves, reducing concerns the central bank's bond-buying programme will soon be scaled back, mainly led to rise in nickel prices at futures trade.