Nickel prices moves up on spot demand

Nov 27 2012, 14:17 IST
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SummaryNickel prices moved up by Rs 5.40to Rs 933.10 per kg in futures trading today as speculators increased their positions, driven by firm demand from alloy makers at spot markets.

Nickel prices moved up by Rs 5.40to Rs 933.10 per kg in futures trading today as speculators increased their positions, driven by firm demand from alloy makers at spot markets.

At the Multi Commodity Exchange, nickel for delivery in December rose by Rs 5.40, or 0.58 per cent, to Rs 933.10 per kg in business turnover of 1825 lots.

Similarly, the metal for delivery in the January contract gained Rs 4.40, or 0.47 per cent, to Rs 940.20 per kg in 52 lots.

Analysts attributed the rise in nickel futures to increased demand from alloy-makers in the spot market.

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