Commodities

Nickel marginally up on local, overseas trend

| | Updated on: Jan 19, 2011

Robust domestic demand and firm trend at the London Metal Exchange (LME), helped nickel futures to trade 0.68 per cent higher at Rs 1,194.50 a kg on Wednesday.

Nickel for delivery in January traded Rs 10.10 or 0.68 per cent higher to Rs 1,194.50 a kg, with a trade turnover of 11 lots.

Similarly, the metal for delivery in February also moved up by Rs 7.40 or 0.62 per cent to Rs 1,201.70 a kg, with a business turnover of two lots.

At the LME, nickel climbed 0.4 per cent to $26,200 a tonne.

Market analysts said beside rising demand at the domestic market from alloy makers, firming trend in base metals overseas, as economic recovery raised demand outlook for the metals, influenced futures here.

Published on January 19, 2011

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