 "Nickel rises by 0.2% as demand picks up")
Nickel prices gained 0.17% to Rs 804.80 per kg in the futures trade today as speculators enlarged positions, supported by rising demand from alloy-makers in the spot market.
However, a weak trend in copper and other base metals at the London Metal Exchange (LME), capped the gains.
At the Multi Commodity Exchange, nickel for delivery in June marginally up by Rs 1.40, or 0.17%, to Rs 804.80 per kg in a business turnover of 473 lots.
Analysts said the rise in nickel prices at futures trade was mostly on the back of rising demand from alloy-makers at domestic spot markets but metal's weakness at the London Metal Exchange, restricted the gains.
However, a weak trend in copper and other base metals at the London Metal Exchange (LME), capped the gains.
At the Multi Commodity Exchange, nickel for delivery in June marginally up by Rs 1.40, or 0.17%, to Rs 804.80 per kg in a business turnover of 473 lots.
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The metal for delivery in July traded higher by Rs 1.30, or 0.16%, at RS 812 per kg in 31 lots.
Analysts said the rise in nickel prices at futures trade was mostly on the back of rising demand from alloy-makers at domestic spot markets but metal's weakness at the London Metal Exchange, restricted the gains.