NEW DELHI, Nov 11: Supported by a firming trend in base metals in the global market and increased demand from alloy-makers, nickel futures traded 0.39 per cent higher at Rs 886.20 per kg in futures trade today as speculators created fresh positions.
At the Multi Commodity Exchange, nickel for delivery in November gained by Rs 3.40, or 0.39 per cent, to Rs 886.20 per kg, with a business turnover of 720 lots.
Similarly, the metal for delivery in December traded higher by Rs 3.10, or 0.35 per cent, to Rs 894.20 per kg, in a turnover of 24 lots.
Marketmen said the rise in nickel prices at futures trade was mostly on the back of a firming trend in global markets as better-than-estimated Chinese and US economic data bolstered the demand outlook in the world’s two biggest users of the metals.
Besides, rising demand from alloy-makers too supported the upside, they said. (PTI)
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