Comments
Nickel futures traded marginally higher by 0.2 per cent to Rs 1,200 per kg as speculators covered-up their pending short positions amid a firming trend at the London Metal Exchange (LME).
Better trend at the spot market owing to pick-up in demand from alloy makers also influenced the futures prices here.
At the Multi Commodity Exchange, nickel for delivery in May traded higher by Rs 2.40 or 0.2 per cent at Rs 1,200 per kg with a business turnover of 2,483 lots. Similarly, June contract gained Rs 1.90 or 0.16 per cent to Rs 1,208 per kg with a business volume of 72 lots.
Meanwhile, the metal gained one per cent to $26,891 a tonne at the LME in the early trade today.
Analysts said a firming trend in copper and other base metals at the LME, as a weaker dollar raised the demand for the commodities, and a firming trend in the domestic market influenced the nickel futures prices.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.