Nickel futures keep head above water

Nickel futures keep head above water

03/07/2017 17:11

Nickel futures were trading higher during evening trade in the domestic market on Monday as investors and speculators extended their bets in the industrial metal on surging demand from alloy-makers at domestic markets.

The prices of metal also rose on global cues as the market fretted about shortages, dwindling stocks and expectations of strong demand from top consumer China.

At the MCX, nickel futures for July 2017 contract is trading at Rs 611.50 per kg, up by 0.74 per cent, after opening at Rs 608.30, against a previous close of Rs 607. It touched the intra-day high of Rs 612.60 (at 17:07 hours).

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