Nickel futures climb 0.37% on uptick in demand

27/02/2017 16:59

Nickel futures rose during evening trade in the domestic market on Monday as investors and speculators extended their bets in the industrial metal tracking a firm trend at spot market on rising demand.

Marketmen said that increasing of positions by participants owing to pick up in demand from alloy-makers in the spot market, mainly attributed the rise in nickel prices at futures trade.

At the MCX, nickel futures for February 2017 contract is trading at Rs 726.40 per kg, up by 0.37 per cent, after opening at Rs 725, against a previous close of Rs 723.70. It touched the intra-day high of Rs 729.50 (at 16:54 hours).

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