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This is an archive article published on October 11, 2012

Nickel futures rise on global cues

Nickel prices rose by Rs 2.20 to Rs 941.10 per kg in futures trade

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Tracking a firm global trend,nickel prices rose by Rs 2.20 to Rs 941.10 per kg in futures trade today as speculators created fresh positions.

At the Multi Commodity Exchange,nickel for delivery in October rose by Rs 2.20,or 0.23 per cent,to Rs 941.10 per kg,with a business turnover of 7,032 lots.

Similarly,the metal for delivery in November traded higher by Rs 2,or 0.21 per cent,to Rs 948.20 per kg,with an open interest of 405 lots.

Marketmen said fresh buying by speculators in line with a firm global trend mainly helped nickel futures to trade higher.

Meanwhile,nickel rose by 0.4 per cent at USD 17,738 a tonne on the London Metal Exchange.

 

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