NEW DELHI, Dec 8: Nickel prices moved up by Rs 2.50, or 0.24 per cent, to Rs 1,041.80 per kg in futures trade today on speculative buying by investors following firming trends at global markets.
Rising demand at spot markets from alloy-makers also supported the upside, analysts said.
At the Multi Commodity Exchange, nickel for delivery in December rose by Rs 2.50, or 0.24 per cent, to Rs 1,041.80 per kg in business turnover of 176 lots.
Metal for delivery in January month moved up by Rs 1.40, or 0.13 per cent to Rs 1,047 per kg in two lots.
Analysts said rise in nickel prices in futures trade was mostly supported by a firming trend overseas as an unexpected decline in Chinese imports raised speculation of looser monetary policy to stimulate the economy of the world’s largest industrial-metals user.
Globally, nickel for delivery in three months at the London Metal Exchange (LME) rose 0.3 per cent to USD 16,849 a metric tonne. (PTI)
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