Nickel gains 0.24 pc at futures trade on global cues

Nickel prices rose 0.24 per cent to Rs 1,123.50 per kg in futures trade today as speculators created fresh positions, taking positive cues from overseas markets.
At the Multi Commodity Exchange, nickel for delivery in June rose by Rs 3.10, or 0.24 per cent, to Rs 1,123.50 per kg in business turnover of 90 lots.
In a similar fashion, the metal for delivery in May gained Rs 2.50, or 0.22 per cent, to Rs 1,117.50 per kg in 2,339 lots.
Analysts attributed the rise in nickel futures to a firm global trend where the metal climbed to trade at nearly 15-month high on concern that supplies will be disrupted as tensions between Russia and Ukraine were escalating and Indonesia stopped ore exports.

Meanwhile, nickel for delivery in three months added 0.8 per cent to 18,700 dollar a metric tonne on the London Metal Exchange.