 "Nickel rises by 0.2% as demand picks up")
Nickel prices gained 0.21% to Rs 717.30 per kg in futures trade today as speculators built up positions, supported by rising demand from alloy-makers in the spot market even as metal weakened overseas.
At the Multi Commodity Exchange, nickel for delivery in July contracts moved up by Rs 2.50, or 0.21%, to Rs 717.30 per kg in a business turnover of 1,256 lots.
Similarly, the metal for delivery in August traded higher by Rs 1.50, or 0.21%, to Rs 724.70 per kg in a business turnover of 442 lots.
Analysts said speculators widening positions on a firming trend in metal following pick up in demand at domestic spot markets, supported the upside in nickel futures but falling trend in metals overseas as China's economy slows, limited the gains.
At the Multi Commodity Exchange, nickel for delivery in July contracts moved up by Rs 2.50, or 0.21%, to Rs 717.30 per kg in a business turnover of 1,256 lots.
Similarly, the metal for delivery in August traded higher by Rs 1.50, or 0.21%, to Rs 724.70 per kg in a business turnover of 442 lots.
Analysts said speculators widening positions on a firming trend in metal following pick up in demand at domestic spot markets, supported the upside in nickel futures but falling trend in metals overseas as China's economy slows, limited the gains.