NEW DELHI, June 23: Nickel prices were up sharply by 1.24 per cent to Rs 801 per kg in futures market today after speculators widened their commitments, tracking a firming trend overseas amidst rising demand from alloy makers in the spot market.
Nickel for delivery in June month contracts gained Rs 9.80, or 1.24 per cent, to Rs 801 per kg in a business turnover of 1,488 lots at the Multi Commodity Exchange.
In a similar manner, the metal for delivery in July rose Rs 9.75, or 1.23 per cent, to Rs 808 per kg in 119 lots.
In the international market, nickel rose 1.9 per cent to USD 12,650 per tonne on the London Metal Exchange (LME).
Analysts said besides increased domestic demand from alloy makers and other consuming industries, a firming trend in the base metals pack at the LME as manufacturing in China showed signs of stabilising and amid speculation a deal is near between Greece and its euro-area creditors, influenced nickel futures here. (PTI)
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