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Nickel up 0.3% on global cues

Pick up in domestic demand from alloy-makers supports uptrend

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Press Trust of India New Delhi

Nickel prices gained Rs 2.90 to Rs 877.40 per kg in futures market today after participants enlarged positions, taking positive cues from overseas markets, and pick up in domestic demand from alloy-makers.

At the Multi Commodity Exchange, nickel for delivery in November gained Rs 2.90, or 0.33%, to Rs 877.40 per kg, with a business turnover of 2,809 lots.

The metal for delivery in December traded higher by similar margin at Rs 887.80 per kg in a turnover of 200 lots.

Marketmen said besides pick up in demand from alloy-makers in the domestic spot markets, a firming trend in copper and other base metals overseas ahead of China's October economic data supported the upside in nickel prices at futures trade here.

 

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First Published: Nov 06 2012 | 11:59 AM IST

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