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Nickel up 0.4% on firm global cues

Increased demand from alloy-makers also influenced prices

Press Trust of India New Delhi
Last Updated : Mar 21 2013 | 2:01 PM IST
Nickel futures for April rose by Rs 3.50, or 0.38%, to Rs 926 per kg in 169 lots.

At the Multi Commodity Exchange (MCX), the March contract traded higher by Rs 3.20, or 0.35%, to Rs 918.60 per kg in 1,603 lots.

Increased buying by speculators on pick-up in demand from alloy-maker in the spot market.

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Firm domestic spot markets trend on the back of increased demand from alloy-makers also influenced prices.

At the London Metal Exchange (LME), nickel advanced 1.7% to $16,815 a tonne.

Morgan Stanley predicting increased demand in China, world's biggest user, that triggered firm overseas trend led to rise in nickel futures.

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First Published: Mar 21 2013 | 2:00 PM IST

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