NEW DELHI, June 3: Nickel prices moved up by 0.52 per cent to Rs 842.60 per kg in futures market today as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers.
Besides, an encouraging trend in copper and other base metals in the global markets supported the upside.
At the Multi Commodity Exchange, nickel for delivery in June gained Rs 4.20, or 0.52 per cent, to Rs 842.60 per kg in business turnover of 1,123 lots.
In a similar fashion, the metal for delivery in July rose by Rs 3.90, or 0.46 per cent, to Rs 850 per kg in 362 lots.
Market analysts said apart from increased domestic demand from alloy-makers, firmness in metal overseas amid reports that China’s State Reserve Bureau bought nickel, influenced nickel futures here. (PTI)
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