Nickel futures up 0.15 pc on spot demand, global cues

NEW DELHI: Taking firm cues from the London Metal Exchange (LME) and strong demand at the domestic spot market, nickel futures prices gained Rs 3.40 to Rs 1,080.30 per kg today.

At the Multi Commodity Exchange counter, nickel for December delivery edged up by Rs 3.40, or 0.32 per cent, to Rs 1,080.30 per kg, with a business volume of two lots.

The metal for delivery in January rose Rs 2.80, or 0.26 per cent, to Rs 1,090.70 per kg, with a business turnover of three lots.

At the LME, nickel gained 0.9 per cent to USD 23,801 a tonne.

Market analysts said besides a firm trend in nickel futures prices at the LME, rising demand at the domestic spot market from alloy makers, also pushed up futures prices of the metal here.