Agri Business

Nickel strengthens on spot demand

PTI New Delhi | Updated on January 11, 2011

Nickel futures prices traded 0.73 per cent higher at Rs 1,101.50 a kg on Tuesday, as speculators enlarged their positions at prevailing levels, amid firming trend at the spot market.

At the Multi Commodity Exchange counter, nickel for delivery in January traded Rs 8 or 0.73 per cent higher, to Rs 1,101.50 a kg, with a business turnover of 1,347 lots.

Similarly, the metal for delivery in February moved up by Rs 8.10 or 0.72 per cent to Rs 1,111.50 a kg, with a business turnover of 199 lots.

Market analysts said besides strong demand at the spot market from alloy makers, a firm trend in select base metals at the London Metal Exchange, supported the upside in prices here.

Published on January 11, 2011

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