NEW DELHI, Sept 9: Buoyed by a firming trend in base metals overseas, nickel prices moved up 0.77 per cent to Rs 681.20 per kg in futures trading today as speculators widened their positions.
Furthermore, rising demand at the domestic spot market from alloy-makers also supported the upside.
At Multi Commodity Exchange, nickel for delivery in October contracts rose Rs 5.20, or 0.77 per cent, to Rs 681.20 per kg in a business turnover of 22 lots.
Metal for delivery in this month contracts was up Rs 5, or 0.75 per cent, to Rs 673.80 per kg in 753 lots.
Analysts said a firming trend at the London Metal Exchange (LME) where base metals strengthened amid signs that the turmoil in China’s financial markets is subsiding, easing concerns about growth in the world’s biggest consumer, mainly led to rise in nickel futures here. (PTI)
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