NEW DELHI, Sept 7: Tracking a firming trend overseas, nickel prices surged 0.39 per cent to Rs 664.70 per kg in futures trading today as participants widened their positions.
Besides, rising demand at domestic spot markets from alloy-makers also gave support.
At Multi Commodity Exchange, nickel for delivery in current month rose Rs 2.60, or 0.39 per cent, to Rs 664.70 per kg in a business turnover of 284 lots.
The metal for delivery in October contract also gained Rs 2.20 or 0.33 per cent to trade at Rs 671.30 per kg in six lots.
Marketmen said a firming trend in the base metal pack at the London Metal Exchange (LME) ahead of new trade data from China and pick up in demand from alloy-maekrs at the domestic market influenced nickel futures.
China releases preliminary trade figures tomorrow which will give some clues about the state of domestic and external demand in the world’s biggest metals consumer. (PTI)
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