NEW DELHI, June 24: Nickel prices gained 0.13 per cent to Rs 824.40 per kg in the futures market today as traders strengthened positions amid a firming Asian cues.
Besides, increased demand in spot markets from domestic alloy-makers, influenced nickel prices.
At the Multi Commodity Exchange, nickel for delivery in July month contracts was up by Re one, or 0.13 per cent, to Rs 824.40 per kg in a business turnover of 79 lots.
The metal for delivery in June rose 50 paise, or 0.06 per cent, to Rs 817.30 per kg in 607 lots.
Analysts said apart from increased domestic demand from alloy-makers, a firming trend in Asian trade amid signs of strengthening demand for the metal from China, the world’s biggest consumer, supported the upside.
Globally, nickel for September delivery on the Shanghai Futures Exchange up 0.8 per cent to 95,190 yuan (USD 15,333) per tonne. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel