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News Details

Nickel futures rise on firm spot demand

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03/07/2020 14:23
Nickel prices on Friday rose 0.5 per cent to Rs 981.10 per kg in futures trade as speculators built fresh positions on rising demand from alloy makers in spot market. On the Multi Commodity Exchange, nickel contracts for July delivery gained Rs 4.90, or 0.5 per cent, to Rs 981.10 per kg in a business turnover of 1,671 lots.

The metal for August delivery traded higher by Rs 5.50, or 0.56 per cent, at Rs 986 per kg in a business turnover of 70 lots.

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