Commodities

Nickel futures up

PTI New Delhi | Updated on February 21, 2011 Published on February 21, 2011

Tracking firm trends in other base metals overseas and pick up in domestic demand, nickel prices rose by Rs 11.60 to Rs 1336.90 a kg in futures trade on Monday.

At the Multi Commodity Exchange, nickel prices for delivery in April rose by Rs 11.60, or 0.88 per cent, to Rs 1,336.90 a kg, with an open interest of just one lot.

Similarly, the metal for delivery in February moved up by Rs 9.90, or 0.75 per cent, to Rs 1,324.10 a kg, with a business turnover of two lots.

Market analysts said the rise in nickel futures was mostly due to pick up in demand in the domestic market from alloy makers and a firming trend in copper and other base metals overseas.

Meanwhile, nickel rose by 0.6 per cent to $ 29,320 a tonne, the highest price since April 2008, on the London Metal Exchange.

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Published on February 21, 2011
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