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PrintIt is reported thatnickel traded higher by INR 2.60 to INR 869.60 per kilogram in futures trading as speculators enlarged their positions on the back of a rise in demand from alloy makers in the spot market. A firming trend in global markets also influenced the nickel prices.
At the Multi Commodity Exchange, nickel for delivery in August rose by INR 2.60 or 0.30% to INR 869.60 per kilogram, with a business turnover of 5,591 lots
The September 2012 contract edged up by INR 2.50 or 0.28% to INR 880 per kilogram in 580 lots.
Analysts said besides increased demand from alloy makers in the spot market, a firming trend in metals at the London Metal Exchange mainly led to a rise in nickel futures.
Meanwhile, nickel advanced 0.3% to USD 15,565 a tonne on the London Metal Exchange.
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