Business Standard

Nickel extends gains on rising demand

Firming trend in overseas market supported nickel trade here

Press Trust of India New Delhi
Nickel futures for February added Rs 2.30, or 0.23% to Rs 983.60 per kg in 4,293 lots.

At the Multi Commodity Exchange (MCX), the March contract edged up by Rs 2.20, or 0.22%, to Rs 988.50 per kg in 296 lots.

Prices rose as speculators enlarged positions, driven by rising demand from alloy-makers in the spot market.

Firming trend in overseas markets supported the uptrend here.

On the London Metal exchange (LME). nickel advanced 0.4% to $18,237 a tonne.

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First Published: Feb 12 2013 | 2:22 PM IST

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