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Nickel futures up on firm global trend, spot demand

Nickel prices gained Rs 3.40 to Rs 963.10 per kg in futures market.

Nickel prices gained Rs 3.40 to Rs 963.10 per kg in futures market today after participants built-up positions, taking positive cues from overseas markets, amid pick-up in domestic demand from alloy-makers.

At the Multi Commodity Exchange, nickel for delivery in September gained Rs 3.40, or 0.35 per cent, to Rs 963.10 per kg, with a business turnover of 1,885 lots. Similarly, the metal for delivery in October traded higher by Rs 3, or 0.31 per cent, to Rs 969.40 per kg, with a business turnover of 416 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 on the back of increased buying by copper and other base metals by Chinese consumers ahead of a week-long holiday, helped nickel futures to trade higher.

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First published on: 25-09-2012 at 13:56 IST
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