Marginal rise in nickel futures

PTI New Delhi | Updated on May 11, 2011 Published on May 11, 2011

Nickel futures traded marginally higher by 0.24 per cent to Rs 1,122 per kg after speculators enlarged their positions amid a firming trend at the London Metal Exchange (LME).

Better trend at the spot market on the back of increased demand from alloy makers also supported the upside in nickel futures prices here.

At the Multi Commodity Exchange, nickel for delivery in May traded higher by Rs 3.70 or 0.24 per cent at Rs 1,122 per kg with a business turnover of 1,552 lots. Likewise June contract also gained Rs 2.40 or 0.21 per cent to Rs 1,132.20 per kg with a turnover of 59 lots.

Market analysts said a firming trend in copper and other base metals at the LME, as a weaker dollar spurred the demand for commodities, along with a firm domestic market trend on better demand, influenced the nickel futures prices here.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on May 11, 2011
This article is closed for comments.
Please Email the Editor