Nickel futures up 0.36 pc on spot demand

NEW DELHI: Nickel prices moved up by 0.36 per cent to Rs 871.10 per kg in futures market today after speculators enlarged position on the back of increased demand in spot market from alloy-makers amid a firming trend overseas.

At the Multi Commodity Exchange, nickel for delivery in November gained Rs 3.10, or 0.36 per cent, to Rs 871.10 per kg in business turnover of 34 lots.

In a similar fashion, the metal for delivery in October gained Rs 2.50, or 0.29 per cent, to Rs 862 per kg in 453 lots.

Market analysts said apart from increased domestic demand from alloy-makers, a firming trend in base metals at the London Metal Exchange, mainly influenced nickel futures prices.