Agri Business

Nickel futures extend gains on spot demand

PTI New Delhi | Updated on January 06, 2011 Published on January 06, 2011

Buoyed by the rising domestic demand and firming trend overseas, nickel futures traded 0.24 per cent higher at Rs 1,137.30 a kg on Thursday.

At the Multi Commodity Exchange platform, nickel for delivery in January traded Rs 2.70 or 0.24 per cent higher to Rs 1,137.30 a kg, with a trade turnover of four lots.

Similarly, the metal for delivery in February also moved up by Rs 2.50 or 0.22 per cent to Rs 1,147.30 a kg, with a business turnover of two lots.

Globally, nickel gained one per cent to $25,000 a tonne at the London Metal Exchange.

Market analysts said besides firming trend in base metals overseas following better-than-expected US economic data, good demand from alloy makers for the metal at the spot market from alloy makers, also supported the upside in futures here.

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Published on January 06, 2011
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