Nickel rises marginally

PTI New Delhi | Updated on January 18, 2011 Published on January 18, 2011

Nickel futures traded 0.48 per cent higher at Rs 1,181.30 a kg on Tuesday, as speculators enlarged their positions, driven by a firming trend in base metals overseas.

At the Multi Commodity Exchange, nickel for delivery in January traded Rs 5.70 or 0.48 per cent higher to Rs 1,181.30 a kg, with a trade turnover of one lot.

Similarly, the metal for delivery in February also moved up by Rs 5.30 or 0.45 per cent to Rs 1,1890 a kg, with a business turnover of four lots.

Globally, nickel gained 0.5 per cent to $25,950 a tonne at the London Metal Exchange.

Market analysts said besides firming trend in base metals overseas, good demand from alloy makers for the metal at the spot market, also supported the upside in futures here.

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Published on January 18, 2011
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