Nickel up 0.54% on rising demand

NEW DELHI, June 4: Nickel prices rose by 0.54 per cent to Rs 1,035.90 per kg in futures trade today as speculators engaged in enlarging their positions, tracking a firm trend at spot markets.
At the Multi Commodity Exchange, nickel for delivery in June moved up by Rs 5.60, or 0.54 per cent, to Rs 1,035.90 per kg, in a business turnover of 2,014 lots.
Likewise, the metal for delivery in July gained Rs 5.20, or 0.50 per cent, to Rs 1,040 per kg in 58 lots.
Analysts said increasing of positions by participants on the back of rising demand from alloy-makers at domestic spot market, mainly supported the upside in nickel prices at futures trade.
Globally, nickel for three-month delivery traded at USD 15,445 per tonne at the London Metal Exchange today. (PTI)