NEW DELHI, Oct 14: Nickel prices moved up by 0.53 per cent to Rs 1,010.30 per kg in futures trade today as speculators enlarged positions, tracking a firming global trend.
At the Multi Commodity Exchange, nickel for delivery in October traded higher by Rs 5.30, or 0.53 per cent to Rs 1,010.30 per kg in business turnover of 1340 lots.
Similarly, the metal for delivery in November gained Rs 5.30, or 0.52 per cent to Rs 1,017 per kg in 35 lots.
Market analysts said apart from rising demand from alloy-makers in the spot market, firming global trend before euro-region industrial output data and after better-than-expected trade figures from China, the world’s largest metal consumer, mainly influenced nickel prices at futures trade.
Meanwhile, nickel for delivery in three months rose 0.6 per cent to USD 16,550 a metric tonne at the London Metal Exchange. (PTI)
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