Nickel futures up on overseas trend

PTI New Delhi | Updated on February 03, 2011

Tracking firming trend in other base metals overseas and strong domestic demand, nickel futures traded 0.33 per cent higher today.

At the Multi Commodity Exchange counter, nickel for delivery in February contract traded Rs 4.20 or 0.33 per cent higher at Rs 1,281.50 a kg, with a trade turnover of three lots.

The metal for delivery in March gained Rs 3.90 or 0.30 per cent to Rs 1,285.70 a kg, with a business turnover of two lots.

Analysts said besides firming trend in copper and other base metals on better demand outlook and pick up in manufacturing activity in the US and China, strong demand from alloy makers at spot markets, also influenced the prices here.

Meanwhile, nickel traded a shade higher at $27,997 a tonne at the London Metal Exchange.

Published on February 03, 2011

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