Nickel futures advance on spot demand

On the Multi Commodity Exchange, nickel contracts for the May delivery gained Rs 4.80, or 0.5 percent, to Rs 962.30 per kg in a business turnover of 1,474 lots.

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Nickel prices on Thursday rose 0.5 percent to Rs 962.30 per kg in the futures trade as speculators built positions on rising demand from alloy makers in the spot market.

On the Multi Commodity Exchange, nickel contracts for the May delivery gained Rs 4.80, or 0.5 percent, to Rs 962.30 per kg in a business turnover of 1,474 lots.

Similarly, the metal for June delivery traded higher by Rs 8, or 0.83 percent, at Rs 967.70 per kg in a business turnover of 595 lots.

Rising demand in the spot market from alloy makers mainly supported the price rise in nickel futures, analysts said.

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First Published on May 21, 2020 05:05 pm

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