Robust spot demand lifts nickel futures

NEW DELHI, May 9: Nickel prices hardened by 0.21 per cent to Rs 938 per kg in futures trading today as speculators built up fresh positions after pick-up in demand from consuming industries at the spot market.
At the Multi Commodity Exchange, nickel for delivery in June rose by Rs 2, or 0.21 per cent to Rs 938 per kg in a business turnover of 33 lots.
Similarly, the metal for delivery in May was trading higher by Rs 1.40, or 0.15 per cent to Rs 934.40 per kg in 2,199 lots.
Market analysts said fresh positions created by participants after upsurge in demand from alloy-makers in the physical market, influenced nickel prices at futures trade. (PTI)


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