Nickel futures up on global trend, spot demand
Agencies: New Delhi, Nov 19 2012, 16:10 IST
Nickel futures traded 0.23 per cent higher at Rs 886 per kg in futures market today after participants enlarged positions, driven by positive cues from overseas markets, and pick-up in domestic demand.
At the Multi Commodity Exchange, nickel for delivery in November gained Rs 2, or 0.23 per cent, to Rs 886 per kg, with a business turnover of 2,512 lots.
The metal for delivery in December traded higher by Rs 1.80, or 0.20 per cent, at Rs 895 per kg, with a turnover of 308 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, supported the upside in nickel prices at futures trade here.
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