 "Nickel up 0.4% on firm demand, global cues")
Nickel prices moved up by Rs 4.40 to Rs 1,130.70 per kg in futures market today after speculators enlarged positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in select base metals in the global markets, supported the upside.
At the Multi Commodity Exchange, nickel for delivery in current month gained Rs 4.40, or 0.39%, to Rs 1,130.70 per kg in a business turnover of 407 lots.
Globally, nickel gained as much as 0.3% to $18,604 per tonne at the London Metal Exchange (LME).
Market analysts said apart from increased domestic demand from alloy-makers, firmness in metal at the LME before a report that may show factory orders expanded in US, pushed up nickel prices at futures trade here.
Besides, an encouraging trend in select base metals in the global markets, supported the upside.
At the Multi Commodity Exchange, nickel for delivery in current month gained Rs 4.40, or 0.39%, to Rs 1,130.70 per kg in a business turnover of 407 lots.
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In a similar fashion, the metal for delivery in October rose by Rs 3.70, or 0.33%, to Rs 1,136.70 per kg in 5 lots.
Globally, nickel gained as much as 0.3% to $18,604 per tonne at the London Metal Exchange (LME).
Market analysts said apart from increased domestic demand from alloy-makers, firmness in metal at the LME before a report that may show factory orders expanded in US, pushed up nickel prices at futures trade here.