Business Standard

Nickel futures surge on global cues

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Press Trust of India New Delhi

Tracking a firming global trend, nickel prices surged by Rs 17.10 to Rs 1,160.50 per kg in futures trade today.

Increased demand at the spot markets from alloy-makers also supported the uptrend.

At the Multi Commodity Exchange, nickel for delivery in May rose by Rs 17.90, or 1.57%, to Rs 1,160.50 per kg, with a business turnover of three lots.

The April contract shot up by Rs 17.10, or 1.51%, to Rs 1,151.60, with an open interest of two lots.

Market analysts said increased demand from alloy-makers in the spot market also helped the metal to trade higher at the futures market.

 

Nickel rose by 1.6% to $25,805 a metric tonne on the London Metal Exchange.

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First Published: Apr 06 2011 | 3:06 PM IST

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