NEW DELHI, June 2: Nickel prices rose 0.23 per cent to Rs 1,147.20 per kg in futures trading today as participants enlarged speculative positions.
Besides, rising demand at domestic spot markets from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in June rose by Rs 2.60, or 0.23 per cent, to Rs 1,147.20 per kg in a business turnover of 972 lots.
The metal for delivery in July rose Rs 2.30, or 0.20 per cent, to trade at Rs 1,151.30 per kg in 41 lots.
Market analysts said besides rising domestic demand, a firming in base metals at London Metal Exchange (LME), influenced nickel futures.
Meanwhile, nickel for delivery in three months climbed 0.40 per cent to USD 19,328 per tonne at LME.
Nickel prices climbed 39 per cent this year at LME after Indonesia, the world’s biggest producer of mined nickel, banned ore exports in January. (PTI)
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