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Journalism of Courage
Buoyed by a firming trend at the London Metal Exchange,nickel prices edged up by 0.72 per cent in futures trade on Monday.
A better trend at the domestic spot markets on the back of pick-up in demand from alloy makers also influenced nickel futures prices.
At the Multi Commodity Exchange,nickel for delivery in July moved up by Rs 7.50,or 0.72 per cent,to Rs 1,045.40 per kg,with a business volume of 91 lots.
Likewise,the metal for delivery in August traded Rs 7.30,or 0.70 per cent,higher at Rs 1,054.50 per kg,with a trade turnover of 1,855 lots.
Market analysts said firmness in nickel and other base metals at the London Metal Exchange,supported by strong US manufacturing data for June and pick-up in demand from alloy-makers at the spot markets,mainly influenced nickel futures prices here.
Meanwhile,nickel climbed by one per cent in early trade on the London Metal Exchange.
