Nickel futures gain 0.55 per cent on spot demand

Nickel for delivery this month moved up by Rs 3.20 or 0.55 per cent to Rs 585.20 per kg in a business turnover of 24,383 lots

By: PTI | New Delhi | Published:May 29, 2017 12:15 pm
Nickel, Nickel prices, Nickel Business, Business News, Indian Express, Indian Express News Nickel for delivery this month moved up by Rs 3.20 or 0.55 per cent to Rs 585.20 per kg in a business turnover of 24,383 lots (Source: File Photo)

Amid pick up in demand from consuming industries at the domestic spot markets, nickel prices were higher by 0.55 per cent to Rs 585.20 per kg in futures trade today as participants created fresh positions. At the Multi Commodity Exchange, nickel for delivery this month moved up by Rs 3.20 or 0.55 per cent to Rs 585.20 per kg in a business turnover of 24,383 lots.

Likewise, the metal for delivery in June traded higher by Rs 2.20 or 0.37 per cent to Rs 590.30 per kg in 8,873 lots. Analysts said besides pick up in demand alloy-makers in the spot market, mainly attributed the rise in nickel prices at futures trade.

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