Nickel futures up Rs 3.20 per kg on firm demand, global cues

NEW DELHI: Buoyed by firming trend overseas and increased demand from alloy-makers at domestic spot markets, nickel prices moved up by Rs 3.20 to Rs 806.90 per kg in futures market today as speculators enlarged positions

Nickel for delivery in April month contracts gained Rs 3.20 or 0.40 per cent to Rs 806.90 per kg in business turnover of 498 lots in futures trade at the Multi Commodity Exchange.

Similarly, the metal for delivery in May rose by Rs 1.80 or 0.22 per cent to Rs 813.20 per kg in 20 lots.

Analysts said besides rising demand from alloy-makers, a firming trend at the London Metal Exchange, helped nickel futures to trade higher.