NEW DELHI, Mar 21: Nickel prices rose by Rs 3.50 to Rs 926 per kg in futures trading today as speculators enlarged their positions, tracking a firm trend overseas.
A firm trend at the domestic spot markets on the back of increased demand from alloy-makers also influenced prices.
At the Multi Commodity Exchange, nickel for delivery in April rose by Rs 3.50, or 0.38 per cent, to Rs 926 per kg in business turnover of 169 lots.
Similarly, the metal prices for delivery in March traded higher by Rs 3.20, or 0.35 per cent, to Rs 918.60 per kg in 1,603 lots.
At the London Metal Exchange, nickel advanced 1.7 per cent to USD 16,815 a tonne.
Market analysts said a firming trend in copper and other base metals overseas after Morgan Stanley predicted increased demand in China, the world’s biggest user, mainly led to rise in nickel futures.
Besides, increased buying by speculators on pick-up in demand from alloy-maker in the spot market. (PTI)
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