Nickel prices edged up by 0.45 per cent in futures trade today supported by a firming trend overseas amid a pick-up in demand.
At the Multi Commodity Exchange, nickel for delivery in June rose by Rs 4.50 or 0.45 per cent to Rs 1,005.10 per kg, with a business volume of 4,883 lots.
Likewise, the metal for delivery in July traded Rs 4.40 or 0.44 per cent higher at Rs 1,014.20 per kg with a trade turnover of 316 lots.
Market analysts said firmness in nickel at the London Metal Exchange on optimism that China’s economy is maintaining momentum, after data showed industrial output grew even as the government took steps to curb rising prices.
Meanwhile, nickel climbed 0.2 per cent to $22,310 per tonne on the London Metal Exchange.
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